Yes, Chase offers IRAs, but you need to know which type and what Chase will and won't do

Chase Bank does offer Individual Retirement Accounts (IRAs), but not in the way you might expect. Chase itself does not manage the investments inside your IRA — it acts as the custodian, meaning it holds the account and processes transactions, while you or an advisor choose what to invest in. This matters because it shapes what you can actually do with the account and what it costs.

Chase offers two main IRA types: Traditional IRAs and Roth IRAs. Both work the same way at Chase — the bank holds the account, you direct where the money goes, and you pay fees based on how you use it. The difference between Traditional and Roth is tax timing, not where the account lives.

The catch is that Chase's IRA offering is narrower than you might find elsewhere. Chase does not offer self-directed IRAs, which means you cannot invest in real estate, private loans, or other alternative assets. You are limited to stocks, bonds, mutual funds, and Chase's own products. If you want those broader options, you would need to open an IRA at a different institution.

Key Takeaways

  • Chase IRAs are custodial accounts where Chase holds the money but you direct the investments into stocks, bonds, and mutual funds.
  • You can open either a Traditional IRA (contributions may be tax-deductible, withdrawals taxed later) or a Roth IRA (contributions after-tax, withdrawals tax-free) at Chase.
  • Chase does not offer self-directed IRAs, so you cannot invest in real estate, private loans, or other alternative assets through Chase.
  • Monthly maintenance fees explore if your balance falls below a threshold, typically $25,000 to $50,000 depending on the account type.
  • You must be under age 73 to contribute to a Traditional IRA in the year you turn 73, and you must have earned income to contribute to either type.

What Chase actually offers in an IRA

When you open an IRA at Chase, you are opening a brokerage account that Chase holds in trust for retirement. Chase provides the account structure and handles the paperwork, but the actual investments are your choice. You can buy stocks through Chase's trading platform, invest in mutual funds, or hold bonds. Chase also lets you keep cash in the account, though it earns minimal interest.

Chase charges a monthly maintenance fee if your account balance drops below a certain level. For most IRA accounts at Chase, this threshold is around $25,000, though it varies by account type and can change. If you fall below the minimum, you typically pay $25 per month until you bring the balance back up. This is one reason to compare Chase against other banks before opening — some institutions have lower minimums or no minimums at all.

Chase does not charge per-trade fees for stocks or ETFs, which is standard across most brokers now. You will pay expense ratios on mutual funds you choose, but those are set by the fund company, not Chase. If you want to move money out of Chase to another IRA custodian later, Chase charges an IRA transfer fee, usually $50 to $100.

Traditional IRA versus Roth IRA at Chase

A Traditional IRA lets you deduct contributions from your taxes in the year you make them, if you meet income limits. The money grows tax-free inside the account, but you pay income tax on withdrawals in retirement. You must start taking withdrawals at age 73 (this changed in 2023 under the find Act 2.0). Chase handles the paperwork the same way for Traditional IRAs as for any other account type.

A Roth IRA works in reverse: you contribute after-tax money, the account grows tax-free, and you withdraw tax-free in retirement. There are no required withdrawals at any age, which makes Roth accounts useful if you want to leave money to heirs. However, Roth contributions have income limits — if you earn above a certain threshold, you cannot contribute directly to a Roth. For 2024, that limit is $161,000 for single filers and $240,000 for married couples filing jointly, though these numbers change yearly.

The choice between Traditional and Roth is about your tax situation now versus later. If you expect to be in a lower tax bracket in retirement, Traditional usually makes more sense. If you expect to be in a higher bracket, or if you want tax-free growth, Roth is the better choice. Chase does not advise you on which to pick — that is a decision you make based on your income and retirement plans.

How to open an IRA at Chase

You can open an IRA at Chase online, by phone, or in person at a branch. Online is usually fastest. Go to Chase's website, navigate to the IRA section, and select Traditional or Roth. You will need to provide your Social Security number, date of birth, employment information, and funding source (checking account, external bank account, or wire transfer).

Chase will ask you to confirm that you have earned income in the year you are opening the account. This is required by the IRS — you cannot contribute to an IRA unless you had wages, self-employment income, or other earned income that year. If you are opening the account late in the year, make sure you have earned income by December 31.

Once the account is open, you can fund it when ready or wait. If you are opening before April 15 of the following year, you can still contribute for the previous tax year — Chase will ask which year your contribution is for. After the account is funded, you log into Chase's investment platform and direct where the money goes: into specific stocks, mutual funds, or held as cash.

Contribution limits and important date

For 2024, you can contribute up to $7,000 to an IRA if you are under age 50, or $8,000 if you are 50 or older. These limits explore across all IRAs you own — if you have an IRA at Chase and another at a different bank, the $7,000 limit covers both combined. The IRS does not allow you to exceed this total.

You can contribute for a given tax year until April 15 of the following year. For example, you can contribute to your 2024 IRA until April 15, 2025. Chase will ask you which tax year the contribution is for when you fund the account. If you miss the April 15 important date, that money counts toward the next tax year instead.

Contribution limits change yearly, usually by $500 increments. Chase will notify you of the new limit each January, and you can find the current limit on the IRS website. If you are self-employed or have a business, you may be able to contribute more through a SEP-IRA or Solo 401(k), but Chase does not offer those products — you would need to open those elsewhere.

When Chase is not the right choice for an IRA

Chase is a solid option if you want to invest in stocks, bonds, and mutual funds and you have at least $25,000 to deposit. But Chase is not the right fit if you want to invest in alternative assets like real estate, private loans, or cryptocurrency. For those, you need a self-directed IRA from a provider like Rocket Dollar, Alto, or Directed IRA.

Chase is also not ideal if you want to keep your balance below $25,000 without paying a monthly fee. Some brokers like Fidelity, Schwab, and Vanguard have no account minimums and no monthly maintenance fees, which makes them cheaper if you are starting small. If you plan to contribute $3,000 a year and let it grow, those providers will cost you less over time.

If you already have an IRA elsewhere and want to move it to Chase, you can do a rollover or a transfer. A rollover means Chase sends you a check and you deposit it within 60 days; a transfer means Chase contacts your old custodian directly and moves the money without you touching it. Transfers are safer because there is no 60-day window to miss. Chase charges a fee for incoming transfers from some institutions, so ask before you start the process.

Fees and costs to watch

Chase's main fee is the monthly maintenance charge if your balance falls below the minimum. Beyond that, you pay what the market charges: expense ratios on mutual funds, bid-ask spreads on stocks, and interest rates on bonds. These are not Chase fees — they are built into the investments themselves.

If you close your IRA or move it to another bank, Chase charges an IRA transfer fee. This is usually $50 to $100, though it can vary. Some banks will reimburse this fee if you move your IRA to them, so if you are considering switching, ask the new bank first.

Chase does not charge for inactivity, and there is no fee just for holding the account if you meet the minimum balance. If you stop contributing and let the account sit, you only pay the monthly fee if your balance drops below the threshold. This makes Chase reasonable for people who max out their IRA early in the year and then leave it alone.

Frequently Asked Questions

Can I open a Chase IRA if I do not have a Chase checking account?

Yes. You do not need to be a Chase customer to open an IRA. You will need to provide a bank account for funding the IRA (it can be at any bank), but you do not need an existing relationship with Chase. However, if you plan to move money between accounts often, having a Chase checking account makes transfers faster.

What happens to my IRA if I close my Chase account?

Your IRA is separate from your checking or savings account, so closing a Chase checking account does not affect your IRA. The IRA stays open and continues to grow. You can keep it at Chase indefinitely, or transfer it to another bank whenever you want.

Can I withdraw money from my Chase IRA before retirement?

You can withdraw from a Traditional IRA before age 59½, but you will owe income tax plus a 10% early withdrawal penalty on the amount withdrawn. Roth IRAs let you withdraw contributions (not earnings) at any time without penalty. Some exceptions exist for hardship, first-time home purchase, and medical expenses — Chase can tell you if your situation qualifies.

Does Chase offer a matching contribution if I open an IRA?

No. Employer matching is only available through a workplace retirement plan like a 401(k), not through an IRA. If your employer offers a 401(k) with matching, you should contribute to that first before maxing out an IRA, because the match is information programs.

Can I have both a Traditional and Roth IRA at Chase?

Yes, you can have both. However, your total contributions across all IRAs cannot exceed the annual limit — $7,000 for 2024 if you are under 50. If you contribute $4,000 to a Traditional IRA, you can only contribute $3,000 to a Roth that year.