Quick Answer
Yes — ITIN holders can save for retirement through: (1) employer 401(k) — up to $24,500/year through payroll, (2) Roth IRA at Fidelity/Schwab — up to $7,500/year, tax-free withdrawals, (3) Traditional IRA — same $7,500 limit, pre-tax contributions. No SSN required for any of these — your ITIN is sufficient.
One of the biggest financial myths among immigrant workers: "I can't save for retirement because I don't have an SSN." This is not true. ITIN holders can access 401(k) plans, Traditional IRAs, Roth IRAs, and Solo 401(k) accounts — some of the most powerful retirement savings tools available in the U.S.
What an ITIN holder cannot collect is Social Security retirement benefits (unless they later obtain an SSN and earn enough credits). That gap makes private retirement savings even more important.
Quick summary
You can use: employer 401(k), Traditional IRA, Roth IRA, Solo 401(k) (if self-employed), and taxable brokerage accounts. You cannot collect Social Security retirement benefits with an ITIN alone. Building your own retirement accounts is not optional — it is essential.
What Retirement Accounts Are Available to ITIN Holders?
ITIN holders can use 5 main retirement accounts: an employer 401(k) (2026 limit $24,500), a Traditional IRA and a Roth IRA (each $7,500), and for the self-employed a Solo 401(k) or SEP IRA (up to $72,000). An estimated 14 million undocumented immigrants live in the U.S. (Pew Research, 2023) — nearly all without Social Security retirement benefits, which require an SSN.
Employer 401(k)
If your employer offers a 401(k) and reports your wages on a W-2, you can enroll regardless of immigration status. Contributions are pre-tax, reducing your taxable income now. Many employers also match contributions. See IRS 401(k) plan rules.
2026 limit: $24,500/year ($32,500 if age 50+)
Traditional IRA
Open at any brokerage that accepts ITIN. Contributions may be tax-deductible depending on income and whether you have a workplace plan. Grows tax-deferred until withdrawal.
2026 limit: $7,500/year ($8,600 if age 50+)
Roth IRA
Contributions are after-tax, but growth and qualified withdrawals are completely tax-free. Ideal if you expect to be in a higher tax bracket later, or if you may collect the money while living abroad. No required minimum distributions.
2026 limit: $7,500/year ($8,600 if age 50+)
Solo 401(k)
For self-employed ITIN holders with no employees (other than a spouse). Allows both employee and employer contributions — the highest contribution limits of any retirement account. You need an EIN to open one.
2026 limit: Up to $72,000/year
SEP IRA
Simplified Employee Pension — designed for self-employed individuals and small business owners. Employer contributions only (up to 25% of net self-employment income). Easy to set up and maintain.
2026 limit: Up to $72,000/year
Social Security Benefits
ITIN holders cannot claim Social Security retirement, disability, or survivor benefits. You can only collect Social Security if you worked legally under an SSN and earned enough work credits (40 credits = 10 years of work).
This is the biggest retirement gap for ITIN holders.
Which Brokerages Accept ITIN for IRA Accounts?
At least 4 major brokerages are commonly reported to accept ITIN on IRA applications: Fidelity, Vanguard, Charles Schwab, and the merged TD Ameritrade/Schwab platform. Many require an SSN in their online flow, so you usually must call or file a paper application. Policies change, so confirm directly before applying.
- Fidelity — accepts ITIN for IRA accounts; call 800-343-3548 or visit a branch. Their low-cost index funds — FSKAX (0.015%) and FTIHX (0.06%) — are the recommended two-fund portfolio. Full Fidelity Roth IRA guide →
- Vanguard — accepts ITIN for IRA accounts; typically requires a paper or phone application
- Charles Schwab — accepts non-citizen applicants including ITIN holders for brokerage and IRA accounts
- TD Ameritrade / Schwab — merged platforms; accepts ITIN in some account types
Call first
Most major brokerages can open an IRA for an ITIN holder, but their online application may require an SSN. Call the brokerage directly, explain that you have an ITIN rather than an SSN, and ask about their non-citizen or foreign national account opening process. This usually routes you to a paper or assisted application that handles ITIN correctly.
Should ITIN Holders Choose a Roth IRA or Traditional IRA?
Most ITIN holders should choose a Roth IRA, for 2 key reasons: every dollar you withdraw in retirement is completely tax-free, which matters when you have no guaranteed Social Security income, and a Roth has no required minimum distributions at age 73. A Traditional IRA fits only if you expect a lower tax bracket in retirement.
- Tax-free withdrawals in retirement — since you have no guarantee of Social Security income, every dollar you take out of a Roth IRA in retirement is completely tax-free. That's a meaningful advantage when you're entirely dependent on private savings.
- No required minimum distributions — you never have to withdraw from a Roth IRA. If you leave the U.S. or don't need the money at 73, it keeps growing tax-free.
The Traditional IRA makes more sense if you expect your income — and tax bracket — to be lower in retirement than it is now, or if you want the immediate tax deduction on contributions today. Keep in mind that Traditional IRA and 401(k) balances are subject to required minimum distributions (RMDs) starting at age 73 — a large pre-tax balance can create a significant tax bill in retirement. Roth conversions before 73 are one of the most effective tools for managing this.
What Retirement Accounts Do Self-Employed ITIN Holders Have?
Self-employed ITIN holders — freelancers, LLC owners, gig workers — can access Solo 401(k) and SEP IRA accounts, which allow up to $72,000 a year, far more than a standard IRA's $7,500. To open a Solo 401(k) you need an EIN, which you can get free from the IRS using your ITIN as the responsible party.
For the difference between the two numbers, see the ITIN vs EIN guide.
Contributing aggressively to a Solo 401(k) also reduces your self-employment tax burden, since contributions lower your adjusted gross income.
Social Security gap — plan around it
Every year you work without contributing to an SSN-based Social Security record is a year you won't receive retirement credit for. If you never obtain an SSN, you will not receive Social Security retirement benefits. Your 401(k), IRA, and other private savings will be your entire retirement — which means contributing as much as possible, as early as possible, matters more for you than for someone who will also receive Social Security.
Frequently Asked Questions
If I get an SSN later, can I start collecting Social Security?
Yes — but you need to have earned at least 40 work credits (roughly 10 years of working legally under that SSN) to qualify for retirement benefits. Work you did before getting an SSN, even if taxes were paid under your ITIN, generally does not count toward Social Security credits unless you worked under a shared or borrowed SSN (in which case, consult a Social Security attorney).
Can I roll my 401(k) into an IRA if I change jobs?
Yes. A 401(k)-to-IRA rollover is a standard financial move available to any account holder regardless of immigration status. You roll the funds into a Traditional IRA (from a traditional 401k) or Roth IRA (from a Roth 401k) to avoid immediate taxes and penalties. Contact the brokerage where you want to open the IRA and ask about their ITIN rollover process.
How much should I be saving for retirement?
A common benchmark is saving 15% of your income for retirement — including any employer match. For ITIN holders who won't receive Social Security, saving more than this (20–25%) is worth considering to compensate for the missing benefit. Even starting with $100/month in a Roth IRA makes a significant difference over 20–30 years due to compound growth.
Can ITIN holders open a Roth IRA without an SSN?
Yes. Fidelity and Schwab both accept an ITIN in place of an SSN to open a Roth IRA. You need earned income (reported on a tax return), your ITIN, and a U.S. address. Fidelity starts the application online and completes identity verification by phone. The 2026 contribution limit is $7,500/year.
What happens to my retirement accounts if I leave the U.S.?
Your Roth IRA and 401(k) remain open. Roth IRA withdrawals after age 59½ are tax-free regardless of where you live. Leaving the U.S. does not automatically close your accounts or trigger early withdrawal penalties. You should update your address with your brokerage and consult a tax advisor about any treaty implications for your destination country.