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I believe that Roth IRA contributions can not be made prior to 1998. Does that mean that there is no reason to rush to open a new Roth IRA account prior to Aprl 15, 1998, as the 1997 the contributions will not relate to the 1997 tax year (for purposes of the mandatory 5-year Roth holding period)?
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drs,

<<I believe that Roth IRA contributions can not be made prior to 1998. Does that mean that there is no reason to rush to open a new Roth IRA account prior to Aprl 15, 1998, as the 1997 the contributions will not relate to the 1997 tax year (for purposes of the mandatory 5-year Roth holding period)?>>

That's correct. The five tax-year period is for years 1998, 1999, 2000, 2001 and 2002. That means you can make a deposit on 12/31/98 and the five years is up on 1/1/2002. Only the tax years count, not the calendar years.

Regards.....Pixy
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