The bonus will be reported to the IRS on form 5498.
You must have earned income in 2011 to qualify.
More on the ING Direct IRAs
Roth IRA Option. When I login at the bonus link, ING Direct gives you the option to open a traditional or Roth IRA. The bonus page does not specify whether the bonus is limited to either type of IRA, so I’m going to assume at this point it includes both IRAs in the bonus.
Available Investments. You can invest your IRA in CDs ranging from 6 months to 60 months or a savings account. The accounts are FDIC insured.
No fees. The IRA has no fees or minimums.
I already have an IRA at ING Direct, so I’ll be opening a Roth IRA for my husband this weekend to take advantage of the bonus.
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