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Should I Report My Roth IRA on the FAFSA?

wonder learn invest college tuition money do I need to report my roth ira on the fafsa form

“Should I report my Roth IRA on the FAFSA form?” is one of the more common confusions regarding this particularly atrocious piece of paperwork.


The FAFSA, or the Free Application for Federal Student Aid, is the dreaded (and long) form that parents and future students must fill out to receive government aid for college. It requires you to disclose the usual array of facts about your life: income, assets, family situation, etc. It’s a stupid and redundant form. The data you fill in comes from your tax returns. The government should already have the information. But, alas…


So when the FAFSA asks about your assets, do you include your Roth IRA? Contributions aren’t tax-deferred, so you don’t need to report that. If you aren’t taking distributions from the Roth IRA, you aren’t receiving income. So don’t report that. Finally, don’t report the balance of the Roth IRA at all (here’s our source).


In fact, you don’t need to report any retirement assets. Those include IRAs, 401(k) plans, and 403(b) plans.


Hope that helps!


Further Reading


Assets You Don’t Need to Report on the FAFSA

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