Roth IRA Account

Qualifications:

• To contribute to a Roth IRA, you must have earned income.
• There are no minimum or maximum age requirements to open and make contributions to a Roth IRA.
• If married, both spouses qualify to contribute to a Roth IRA as long a one has earned income.
• Contributions to a Roth IRA are subject to eligibility based on your modified adjusted gross income.

 Contributions:

• Contributions to a Roth IRA are non-deductible.
• The earnings on the contributions accumulate tax-free as long as the five-year waiting period has been satisfied and qualifying distribution rules have been met.
• The contribution limit for accountholders under the age of 50 is $5,500.
• For those over the age of 50, the limit for contributions is $6,500.
• Your contribution can be split between a Traditional IRA and Roth IRA, but the combined contribution can not exceed these limits.

FOR DETAILED INFORMATION ABOUT ANY OF OUR ACCOUNTS, PLEASE CONTACT US FOR A COMPLETE ACCOUNT DISCLOSURE.