Non-working spouse turned 70 1/2 last year (2015) - first Tradition IRA RMD taken accordingly. Working spouse continues to produce necessary earned income with no threshold complications etc. and MFJ is the long standing method.
Can a Spousal Roth IRA be opened for [that] non-working, 70 1/2+ spouse?
So far all the readings I have found indicate that, for all practical purposes, there are no RMD requirements for a Roth IRA and contributions can continue after 70 1/2 so it seems logical to assume a [new] Roth IRA could be opened in order to make contributions.
I have not been able to uncover any statements saying or implying a Spousal Roth IRA cannot be opened after spouse attains age 70 1/2. The current FI approached for opening such an account (the Traditional IRA RMD FI) says you can't do it but I hesitate to accept their interpretation.
Is there some source that I have not yet come across that clarifies when a Roth IRA may no longer be opened? It sure seems like a reasonable thing to be able to do - take the Tradition IRA RMD, pay the tax then put the remained into a Roth. Can this be made to work?
Thanks for any pointers to additional reading. Geo. Salisbury Long Valley, NJ