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This year I put my sons to work for my consulting business. I am a sole proprietor organized as an LLC in Illinois. My sons will be 13 and 14 at the end of the year. I'd like for each of them to start a Roth IRA, funded with some of their earnings. However, when I asked my broker to send me the forms to setup a Roth IRA for each of them, I was told that the kids could not start a Roth until they were the "age of majority" which in Illinois is 18. Is this right? Is there a minimum age required to start a Roth IRA (or any IRA), even when you have earned income? Thanks for helping to clear this up.
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