Who is eligible to open an IRA account?

Any person, resident of Puerto Rico, who is seventy four (74) years of age or younger, who receives "compensation" such as, income from wages, salary, professional services, occupational income, selling commissions, tips or self-employment from sources within Puerto Rico is eligible. Compensation does not include interests, dividends, rents, royalties, income from child support or capital earnings or any other income that does not come from employment. No age limit applies to Non-Deductible IRAS. If you wish to invest in Mutual Funds IRA, you must continue to be a resident of Puerto Rico to maintain the investment.  

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