$5,500 for 2017 (plus an additional $1,000 if you’re age 50 or older).
Traditional and Roth IRA contributions for 2016 are due April 18, 2017.
You can buy shares for your IRA with a linked bank account. If your bank account isn’t linked with your American Funds account, you’ll receive step-by-step instructions when buying fund shares. Be sure to have a check or your bank account information on hand.
You can also exchange shares to contribute to your IRA by moving money from an existing individual or joint American Funds account. Keep in mind that the IRS considers the movement out of the non-retirement account a taxable event.
You can automatically invest a specified dollar amount on a recurring basis in one or more funds in your account. Take the following steps to set up a plan.
1. Log in to your account.
2. On Your Portfolio, click Automatic Transactions next to the account for which you’d like to set up a plan.
3. Next to Investments, click Add New.
It’s a good idea to discuss any financial transactions with a tax advisor or financial professional beforehand.
Investments are not FDIC-insured, nor are they deposits of or guaranteed by a bank or any other entity, so they may lose value.
Investors should carefully consider investment objectives, risks, charges and expenses. This and other important information is contained in the fund prospectuses and summary prospectuses, which can be obtained from a financial professional and should be read carefully before investing.