Which statement is NOT true regarding Roth IRAs?

The statement that Roth IRAs mandate distributions no later than age 70½ is not true. Unlike traditional IRAs, which require minimum distributions to begin at age 70½, Roth IRAs do not impose such rules during the account holder's lifetime. This allows individuals to keep their funds in the Roth IRA as long as they choose, which can be beneficial for tax planning and wealth accumulation.

The other aspects of Roth IRAs—such as the tax-free accumulation of funds, annual contribution limits, and income restrictions for eligibility—are indeed true. Roth IRAs allow for tax-free growth and withdrawals in retirement, impose contribution caps based on filing status and income, and phase out eligibility for higher-income individuals, aligning with tax policy goals to target retirement savings toward a broader range of income levels.