IRA Match Bonus

Terms & Conditions:

Promotion Period: Offer valid from January 21, 2025, at 12:00 AM ET to February 21, 2025, at 11:59 PM ET.

Eligibility:

This offer is valid for new Firstrade Individual Retirement Accounts (Traditional, Roth, or Rollover IRAs) opened between January 21, 2025, and February 21, 2025. Eligible new contributions, IRA transfers*, and 401(k) rollovers* must be made within 30 days of the account being successfully opened and approved. Internal fund transfers from existing Firstrade accounts are not eligible.

*A transfer refers to moving assets between two accounts of the same type, such as transferring a Roth IRA from another brokerage firm to a Roth IRA at Firstrade.

*A rollover involves moving assets from one type of retirement plan to another, such as rolling over a 401(k) from a previous employer into a traditional IRA or rollover IRA at Firstrade.

The account must be opened using the designated ‘Open a No-fee IRA’ button on the promotional offer page. Limit of one offer per account type. This offer is non-transferable and available to U.S. residents only.

How it Works:

Firstrade IRA 3% Contribution Match: Customers who open a Traditional, Roth, or Rollover IRA during the Promotion Period and successfully deposit new contributions via Electronic Funds Transfer (ACH), Wire Transfer, or Check within 30 days of account opening are eligible. Firstrade will match 3% of the customer’s new contributions, subject to the IRS annual contribution limit. The IRA contribution limits set by the IRS for 2024 & 2025 are: (1) $7,000 if you are under 50, which means you can earn up to a $210 match bonus; and (2) $8,000 if you are age 50 or older, which means you can earn up to a $240 match bonus.

Firstrade 2% 401(k) Rollover/ IRA Transfer Match: Firstrade will match 2% of a customer’s IRA transfers and 401(k) rollovers that were made within 30 days after the account opening, up to a maximum of $20,000 in match bonus, to their Firstrade IRA account. Mutual funds and Fixed income products transferred into the account are excluded from the calculation of rewards for this offer.

Match Bonus Calculation and Retention Policy:

On the 31st calendar day after your new IRA account is approved, the match bonus will be calculated based on the Net qualifying amount* in your IRA account. Market fluctuations do not affect the bonus calculation.

*Net qualifying amount: The total of the qualifying deposits or transfers made within the 30 days of account approval, minus any withdrawals during those 30 days.

The match bonus will be credited to the customer’s IRA account within 5 business days of determining the bonus amount. To retain the full bonus, customers must maintain the net qualifying deposit amount for five continuous years. If any deposits are withdrawn before the end of the Eligibility Period, Firstrade may, at its discretion, deduct the corresponding proportion of the Match Bonus from the customer’s account.

For new contributions:

Withdrawals within one year of account approval: Firstrade may reclaim 3% of the withdrawal amount.

Withdrawals after one year but before the Eligibility Period ends: Firstrade may reclaim 2% of the withdrawal amount.

For IRA transfers/401(k) rollovers:

Withdrawals before the Eligibility Period ends: Firstrade may reclaim 2% of the withdrawal amount.

Please refer to the ‘Example Calculations’ for detailed information.

Conditions of the Match:

The Match Bonus is calculated as:

Contribution Match: (Qualifying new contributions made, minus any withdrawals, within 30 days of account opening and approval) * 3%.

IRA Transfer/401(k) Rollover Match: (Qualifying IRA Transfers/401(k) Rollover, minus any withdrawals, within 30 days of account opening and approval) * 2%.

Example Calculations:

• Contribution Match Example:
• Contribute $7,000 within 30 days of the account opening. No withdrawals are made. Match = $7,000 * 3% = $210.
• If $2,000 is withdrawn within one year, leaving a remaining balance of $5,000. Firstrade may remove $60 from the bonus (calculated as $2,000 * 3%).
• If $2,000 is withdrawn after one year, leaving a remaining balance of $5,000. Firstrade may remove $40 from the bonus (calculated as $2,000 * 2%).
• IRA Transfer/401(k) Rollover Example:
• Transfer $500,000 within 30 days of the account opening. No withdrawals are made. Match = $500,000 * 2% = $10,000.
• If $50,000 is withdrawn within 5 years, Firstrade may remove $1,000 from the bonus (calculated as $50,000 * 2%).

Transfer Fee Rebate: If you use ACAT transfers to participate in this promotional offer, you will be eligible for a transfer fee reimbursement. When completing a total or partial account transfer of $2,500 or more (excluding mutual funds and fixed income products), Firstrade will reimburse up to $250 in transfer fees charged by the outgoing brokerage firm (ACATS only). The reimbursement amount will be fully based on the actual transfer fee charged by the outgoing brokerage firm. Rebates will be granted based on processing of credit posting to the customer account. Please submit (upload, fax, or email) a copy of your latest monthly statement from your previous brokerage firm, along with proof of the transfer fee. The submitted documentation must be received within 60 days of the transfer date. The reimbursement will be credited to your account within 30 days of receiving proof of the transfer fee. This offer applies to Firstrade general investment accounts and IRA retirement accounts (Traditional IRA, Roth IRA, and Rollover IRA) and excludes partnership, corporate, investment club, and ESA education plan accounts. Accounts must remain open for 12 months and meet the minimum funding or asset requirements for participation in the promotion. If your account assets fall below $2,500 due to withdrawals or transfers, Firstrade may reclaim the reimbursement at the time of withdrawal. Firstrade reserves the right to terminate this promotion at its sole discretion without prior notice.

This offer is void where prohibited by law. Firstrade reserves the right to suspend, modify, or terminate the promotion at its sole discretion without prior notice.

Taxes: The match is treated as interest earned and does not impact contribution limits. Taxes related to Firstrade offers are your responsibility. Please consult a qualified tax advisor prior to making any rollover or transfer.