plan for your retirement
tax-advantaged saving for the future
IRA (Individual Retirement Account)
Benefits
ROTH IRA
Benefits
Account Custodial Agreement and Disclosure Statement
(1)Contributions to a Roth IRA are nondeductible and are subject to certain limitations. Tax-free status is achieved when distributions are taken from the Roth IRA if it is held at least 5 years and the distribution is made for one of the following reasons: after age 59 1/2, on account of disability or death, or for a qualified first-home purchase.
(2)Individuals with earned income and modified adjusted gross income of less than $110,000 for single tax filers and $160,000 for married filing jointly.
Interest rates subject to change at bank’s discretion. The rate you receive is determined by the date we receive your deposit. Early withdrawal fees do apply, and as such may reduce earnings.
Note: FirstOak Bank does not offer tax advice and suggests that you consult with your tax advisor to determine which IRA is the best investment for your specific situation. Service fees or penalties charged against the account may reduce earnings.
(1)Contributions to a Roth IRA are nondeductible and are subject to certain limitations. Tax-free status is achieved when distributions are taken from the Roth IRA if it is held at least 5 years and the distribution is made for one of the following reasons: after age 59 1/2, on account of disability or death, or for a qualified first-home purchase.
(2)Individuals with earned income and modified adjusted gross income of less than $110,000 for single tax filers and $160,000 for married filing jointly.
Interest rates subject to change at bank’s discretion. The rate you receive is determined by the date we receive your deposit. Early withdrawal fees do apply, and as such may reduce earnings.
Note: FirstOak Bank does not offer tax advice and suggests that you consult with your tax advisor to determine which IRA is the best investment for your specific situation. Service fees or penalties charged against the account may reduce earnings.