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TRADITIONAL IRA

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Enjoy Tax-Deferred Growth
with a Traditional IRA

Features

  • Earnings aren’t taxed until withdrawn
  • Contributions may be tax-deductible
  • Mandatory distributions begin at age 70 1/2
  • Accepts rollovers from other IRAs and employer retirement plans
  • FDIC insured up to the maximum amount allowable by law

Eligibility

  • You must earn compensation (or your spouse must earn compensation if you file a joint tax return)
  • You can’t contribute if you’ll have reached 70 1/2 by the end of the year

Requirements

  • Minimum deposit: $100
  • Contributors under age 50 may contribute up to $6,000 in 2021
  • Contributors age 50 or older may contribute up to $7,000 in 2021
  • Contributions cannot exceed the compensation

Please consult your tax professional for tax rules regarding IRAS.

Open An Account

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