Retirement plans Payroll Deduction IRA

An easy option to help employees save for retirement.
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Why partner with us Power IRA plans with Invesco expertise

The Invesco Payroll Deduction IRA is a hassle-free and cost-effective retirement solution suitable for employers of all sizes. Whether you're implementing a new retirement plan or supplementing an existing one, this program enables employers to effortlessly submit IRA contributions on behalf of their employees. By establishing a plan with us, you gain access to investment excellence, valuable resources, and powerful tools to help participants get more out of retirement.

Partnership

As a leading independent global investment management firm, our clients may benefit from our commitment to investment excellence, depth of investment capabilities, and organizational strength.

Management

We make it easy to manage your retirement plan with affordable solutions, dedicated service, and resources that support you and your financial professional.

Allocation

Explore our mutual fund offerings, which span every major asset class, including US and international equity and fixed income portfolios and target-risk funds.

What we offer Plan benefits and how to get started

The Invesco Payroll Deduction IRA is a retirement solution that allows employers of any size to contribute to employee IRAs while offering access to our investments and resources.

  • Satisfies states that mandate retirement plans.
  • Helps to attract and retain employees.
  • Charges no employer costs for the plan set-up, administration, or contributions.
  • Administers in a simple way 

  • Automatic savings for retirement via a traditional IRA, a Roth IRA, or both.
  • No eligibility requirements.1
  • Flexibility to change/discontinue contribution amounts at any time.
  • Option to submit their own additional contributions to their traditional or Roth IRAs.2
  • Convenient online account management through invesco.com/us.

An annual retirement account maintenance fee of $25 is paid by the account holder for balances under $50,000. The fee is waived for balances of $50,000 and over.3
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Plan resources

Item nameDescription
Retirement Account Transfer/Rollover FormUse this form to transfer or rollover eligible retirement assets to an Invesco Traditional, Roth, SEP, SIMPLE, or SARSEP IRA, convert assets from another custodian to an Invesco Roth IRA, or to transfer a beneficiary IRA.
Invesco Investment Allocation Change FormUse this form to change future investment allocation percentages to an existing Invesco Retirement Plan Account.
Beneficiary Designation FormUse this form to designate or modify the beneficiary(ies) on your Invesco IRA (including Traditional, Roth, Sep, SARSEP and SIMPLE), 403(b) or Optional Retirement Program (ORP) account or an account with transfer on death (TOD) registration.
IRA Required Minimum Distribution (RMD) FormUse this form to request an RMD or change an existing periodic RMD from your Invesco IRA.
Removal of Excess Contribution Form
Use this form to request the removal of an excess contribution and any attributable earnings from your Invesco IRA.
IRA One-Time Distribution FormUse this form to request a transfer or distribution from a deceased account owner's IRA or a distribution from an existing beneficiary IRA.
Item nameDescription
Retirement Plan Transmittal FormUse this form to submit retirement plan contributions.
IRA Beneficiary Transfer/Distribution FormUse this form to request a transfer or distribution from a deceased account owner's IRA or a distribution from an existing beneficiary IRA.
IRA Account Options FormUse this form to add or update bank information, systematic options, or telephone privileges on your Invesco Traditional, Roth, SEP, SARSEP or SIMPLE IRA.
IRA Periodic Distribution FormUse this form to request periodic distributions, establish a series of substantial equal periodic payments (SEPPs).
IRA to Invesco Roth IRA Conversion FormUse this form to convert assets from an existing Invesco Traditional, SEP, SIMPLE, or SARSEP IRA to an Invesco Roth IRA.
Traditional or Roth IRA Recharacterization FormUse this form to recharacterize current or prior year IRA contributions (Roth IRA to Traditional IRA or Traditional IRA to Roth IRA). Conversion contributions are not eligible for recharacterization.
Payroll Deduction IRA Transmittal FormUse this form to submit payroll contributions for current tax year to an employee's Traditional IRA, Roth IRA, or Coverdell Education Savings Account (Coverdell ESA).
Self-Certification for Late Rollover Contribution FormUse this form to certify the reason(s) you were unable to complete the rollover within 60 days of receipt of the distribution.
Invesco Contribution Manager Access FormUse this form to gain user access to Invesco Contribution Manager (ICM), terminate user access, and add or modify the bank account used for submitting contributions.

For help and support

Frequently asked questions

A payroll deduction IRA is a retirement savings account that allows employees to contribute a portion of their income directly from their paycheck into an individual retirement account (IRA). The employer may choose to offer a traditional IRA, a Roth IRA, or both. It's a convenient way to allow employees to save for retirement through automatic contributions.

In order to establish an Invesco Payroll Deduction IRA, the following forms are required:

Employees who receive a paycheck and are at least age 21 may establish an Invesco Payroll Deduction IRA. 

Employees who want to participate in an Invesco Payroll Deduction IRA must do two things:

  1.  Complete a Payroll Deduction Election for IRA form to instruct their employer how much to be withheld each pay period.
  2. Complete a Payroll Deduction IRA Application form.

The employer may choose to offer employees to contribute to a traditional IRA, a Roth IRA, or both.

There are differences and similarities to both. See the comparison chart for details.

Generally, the most that can be contributed in 2026 is $7,500 if under age 50. At age 50 an additional $1,100 can be made in catch-up contributions. Amounts contributed to an IRA will vary depending on the participant’s adjusted gross income.

Yes, contributions can be made to a nondeductible traditional IRA. 

Yes, distributions at age 59 ½ can be made for any reason. Distributions prior to age 59 1/2 may be subject to taxes and a 10% penalty unless an exception applies. Common exceptions include first-time home purchases and certain educational expenses. For additional information, please refer to IRS Pub 590-B.

Yes, the employee must complete the Payroll Deduction Election for IRA form to modify or pause contribution amounts.

The annual administration fee is $25 for each IRA account with a balance under $50,000. The fee is waived if the account balance is $50,000 or more. Other accounts directly held with Invesco can be aggregated to achieve the fee waiver.

Related insights

Other retirement plans

Explore our other retirement plans designed to help you get more out of retirement.

  • 1

    Eligibility requirements apply to Roth IRA contributions. Speak with your financial professional for support on how to make contributions.
  • 2

    Contributions to any traditional or Roth IRAs aggregated and may not exceed the limit. Subject to income limitations.
  • 3

    An annual account maintenance fee of $25 will be deducted annually from the account if the total assets held in retirement and non-retirement accounts held directly at Invesco, excluding 529 plans, is less than $50,000 on the day the fee is assessed.
  • 4

    Some restrictions may apply.