Information provided by Independent Advisor Solutions by SEI, a strategic business unit of SEI Investments Company (SEI).
Neither SEI nor its subsidiaries provide tax advice. Please note that (i) any discussion of U.S. tax matters contained in this
communication cannot be used by you for the purpose of avoiding tax penalties; (ii) this communication was written
to support the promotion or marketing of the matters addressed herein; and (iii) you should seek advice based on your
particular circumstances from an independent tax advisor.
Investing involves risk, including possible loss of principal.
This material represents an assessment of the market environment at a specific point in time and is not intended to be a
forecast of future events, or a guarantee of future results. This information is for educational purposes only and should not
be interpreted as research, legal opinion or advice.
© 2017-2022 SEI 220039.17 IAS (02/22)
IRA for minors:
IRA alert! SEI now offers IRA for minors; Your clients
who have a child under 18 with earned income can now
open an IRA for that child. The annual contribution limit
is $6,000, or 100% of compensation, whichever is less.
Others can contribute to the child's IRA too, as long as
they do not exceed the amount of the child's earned
income. There are many benefits of opening an IRA for a
child — even small IRA contributions will grow overtime.
Parents can also contribute to a Roth IRA for their
children up to $6,000 for 2021, but the child must have
earned income, and the amount contributed cannot be
more than the child's 2021 earnings. There are several
benefits to the Roth, such as earnings growing tax-free
inside the Roth IRA.
Take a look at our tip: Summer employment and Roth
IRA contributions to children.
For Financial Intermediary
Use Only. Not for Public Distribution.
