However, many of today's banks, brokerage firms, investment firms and even mutual funds no longer charge fees. The worst thing about these minimum balance fees is that you can only contribute a certain amount to an IRA each year, so it may not be your fault that your account size is too small. What does the broker offer that makes it worth paying them an administration fee for IRAs when so many don't charge any IRA maintenance or an annual IRA fee? Many brokerage firms, mutual funds, banks and investment firms offer free IRAs without charging an annual IRA fee, and these aren't just big discount brokers either. Even in financial firms that charge annual custody fees to their IRA accounts, there are usually ways to get an IRA account for free.