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Form 5305-RA: Roth Individual Retirement Trust Account
IRS Form 5305-RA is a model custodial account agreement for establishing a Roth Individual Retirement Account (Roth IRA) under section 408A of the Internal Revenue Code. The form specifies that no part of the funds may be invested in collectibles, except as otherwise permitted by law.
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IRS Form 5305-RA - Roth Individual Retirement Trust Account
IRS Form 5305-RA is a model custodial account agreement for establishing a Roth Individual Retirement Account (Roth IRA) under section 408A of the Internal Revenue Code. The form specifies that no part of the funds may be invested in collectibles, except as otherwise permitted by law.
Risk Radar
Scan points- 1Do not file Form 5305-RA with the IRS; keep it only with your records.
- 2Filing Form 5305-RA with the IRS instead of keeping it in records.
- 3Allowing investment funds to be placed into collectibles without meeting exceptions (e.g., certain gold, silver, and platinum coins).
- 4Failing to fully execute the form by both the depositor and the custodian.
- 5Not having the additional articles comply with state law and the Internal Revenue Code.
Plain English
This form creates a legal structure to hold and manage retirement savings through a Roth IRA account. It outlines the rules for the money, especially detailing how the assets must be distributed if the depositor passes away. The agreement requires both the person funding the account and the custodian managing it to sign.
Submission Date
- Filing date: 2017-09-16 08:03:00
- Preparation window: collect IDs, supporting records, and signatures in advance.
- Final review: verify names, dates, and required fields before submission.
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What this form is for
- Use this form when establishing a Roth individual retirement account (Roth IRA) under section 408A of the Internal Revenue Code.
- Do not use it when submitting the agreement to the IRS, as the document must be kept with personal records.
- No specific alternative filing form number is provided in the official source.
Form selector
Use this form or another form?
If establishing a general IRA account for non-Roth purposes
Filing status determines contribution limits and deductibility, which differs from Roth rules
✓ Check IRS Publication 590-A or Pub. 590-B instead.
When making contributions to an existing IRA
This form tracks the required reporting for IRA assets, while 5305-RA is the agreement itself
✓ Confirm the purpose of the transaction before using this model agreement.
If calculating excess contribution penalties
The penalty calculation depends on specific annual limits and tax rates not covered by this agreement form
✓ Consult Pub. 590-A for detailed rules.
Deadline or filing window
If the depositor dies before distributing their entire interest, remaining funds must be distributed either starting by the end of the calendar year following the death over the designated beneficiary’s life expectancy or by the end of the calendar year containing the fifth anniversary of the depositor’s death.
Checklist
What you need before filling it out
Investment restrictions
The depositor must provide all necessary information for reports required by sections 408(i) and 408A(d)(3)(E), Regulations sections 1.408-5 and 1.408-6, or other guidance published by the Internal Revenue Service (IRS) · Article VI
Contribution limits for 2013–2017
The custodian accepts up to $5,500 per year for non-age 50 individuals and $6,500 per year for age 50+ individuals · Article I
AGI phase-out limits
Single/treated as single: $118,000 to $133,000; Married filing jointly: $186,000 to $196,000 · Article II
Prohibited investments
No part of the custodial account funds may be invested in collectibles (except certain gold, silver, and platinum coins, state laws coins, and certain bullion) · Form p.1
Before you submit
- 1Confirm the depositor and custodian sign and date the agreement.
- 2Verify that if a witness signature is required, three dates are provided for Depositor’s signature | Custodian’s signature | Witness’ signature.
- 3Check Article I to ensure the annual contribution limit aligns with the applicable year (e.g., $5,500 per year for 2013 through 2017).
- 4Review Article II and confirm that if income phase-out applies, the correct AGI ranges are used for single or married grantors.
- 5Confirm that any additional provisions added in Article IX comply with applicable requirements of state law and the Internal Revenue Code.
- 6Ensure the agreement is fully executed by both the individual (depositor) and the custodian before establishing the Roth IRA.
- 7Verify that no part of the custodial account funds are being invested in collectibles, unless an exception for certain gold, silver, or platinum coins applies.
How to file this form
- 1Complete all sections regarding the depositor’s name, date of birth, account number, and address, as well as the custodian's required information.
- 2Document the initial agreement by having both the depositor and the custodian sign the form, including the corresponding dates.
- 3If applicable, have a witness sign the document to validate the signatures of the depositor or the custodian.
- 4Keep the fully executed Form 5305-RA with your records; do not file it with the IRS.
Known limitations
- 1The form does not apply to filings with the Internal Revenue Service (IRS); instead, it must be kept with the filer's records.
- 2Roth IRA contributions are not deductible from the depositor’s gross income.
- 3For years after 2017, contribution limits will increase to reflect a cost-of-living adjustment, if any.
Field map
Compact field-by-field guide
General Info
2 items
Full legal name and taxpayer identification number (SSN or EIN).
Current mailing address.
Details
2 items
Complete all applicable sections of this form according to the official IRS instructions.
Enter the relevant dollar amount if this form involves tax calculation.
Certification
1 items
Read and acknowledge any certifications required by this form.
Signatures
1 items
Sign and date. Unsigned forms cannot be processed.
Almost done reviewing the fields?
Fillable formOpen in Editor->The current edition of Form 5305-RA is dated April 2017. The source specifies that this form must be retained with records and should not be filed with the Internal Revenue Service.
What changed or needs a fresh check
- Edition date — confirm the revision date reads April 2017.
- Fee — Not stated in the official source.
- Mailing address — Not stated in the official source.
- Signature — Confirm that three signatures are required: Depositor, Custodian, and Witness.
Quick Facts
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After you file
- 1Keep the fully executed Form 5305-RA with your records; do not file it with the Internal Revenue Service.
- 2The custodian agrees to submit reports prescribed by the IRS and the depositor to both the IRS and the depositor.
- 3If provisions are added, they must comply with applicable requirements of state law and the Internal Revenue Code.
- 4For more information on Roth IRAs, review Pub. 590-A (Contributions) and Pub. 590-B (Distributions).
Sources
- SRCInstructions p.2 — Form 5305-RA is a model custodial account agreement for establishing a Roth IRA under section 408A of the Internal Revenue Code.
- SRCForm p.1 — The depositor and the custodian make the following agreement.
- SRCForm p.1 — No part of the custodial account funds may be invested in collectibles (within the meaning of section 408(m)) except as otherwise permitted by section 408(m)(3).
- SRCInstructions p.2 — Do not file Form 5305-RA with the IRS; instead, keep it with your records.
- SRCForm p.1 — For years after 2017, contribution limits will be increased to reflect a cost-of-living adjustment, if any.
- SRCForm p.1 — For a grantor who is single or treated as single, the annual contribution is phased out between adjusted gross income (AGI) of $118,000 and $133,000.
- SRCInstructions p.2 — Distributions after 5 years that are made when the depositor is 59 1/2 years of age or older or on account of death, disability, or the purchase of a home by a first-time homebuyer (limited to $10,000), are not includible in gross income.
Common confusion points
Do I need to file this form with the IRS?
The agreement is a model custodial account agreement that meets requirements, but only Articles I through VIII have been reviewed by the IRS.
How are contributions phased out for high earners?
What happens if my surviving spouse isn't the designated beneficiary?
Can I invest in collectibles using these funds?
Does this form cover all required disclosures?
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Questions about IRS Form 5305-RA
What is IRS Form 5305-RA used for?
This form creates a legal structure to hold and manage retirement savings through a Roth IRA account. It outlines the rules for the money, especially detailing how the assets must be distributed if the depositor passes away. The agreement requires both the person funding the account and the custodian managing it to sign.
Who must file IRS Form 5305-RA?
The form is executed by the individual who is establishing the Roth individual retirement account (the depositor) and the designated custodian who manages the funds.
What information does IRS Form 5305-RA require?
The form collects identifying information for both parties, including names, dates of birth, account numbers, and addresses. It also contains articles detailing the agreement's provisions regarding investment rules and distributions.
Where do I file IRS Form 5305-RA?
The depositor must not file Form 5305-RA with the Internal Revenue Service (IRS); instead, it should be kept with your records.
How do I complete IRS Form 5305-RA?
The account is established only after the form is fully executed by both the individual depositor and the custodian. The completion requires signatures from the depositor and the custodian, and a witness signature is optional.
What happens if IRS Form 5305-RA is filed incorrectly?
Any additional articles added to the agreement must comply with applicable requirements of state law and the Internal Revenue Code; otherwise, they may be invalid.
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