Hello,

I have a client who is 62 (will be 63 in May) and does not have a Roth but is considering funding one for 2023. My understanding is that the Roth has to be open for 5 years before the earnings and growth can be eligible for tax free withdrawals. If she opens the Roth in 2024 but funds it for 2023, is the 5 year time frame based on the funding year or when the account itself was actually opened?

Thank you.