Roth IRA

A Roth IRA is an individual retirement account that only allows nondeductible contributions but features tax free withdrawals for certain distribution reasons after a five year holding period.

A popular feature of the Roth IRA is that original contributions are not subject to the 10 percent premature distribution tax when distributed. You can always withdrawal your principal income tax free and penalty free for any reason.

Riverfront's Roth IRA allows you to easily save for your retirement by offering:

• Low minimum deposits - begin investing with just $1.
• Easy contribution options - Make deposits through payroll deduction, direct deposit, through the mail or in person.
•  Fee free account - Pay no annual fee or enrollment fees for this account.
• Competitive interest rates which are compounded monthly.
• Your funds are federally insured up to at least $250,000 and backed by the full faith and credit of the United States Government through the National Credit Union Administration

Eligibility requirements: An individual must have earned income and your modified adjusted gross income (MAGI) cannot exceed certain limits.

You may contribute any amount up to 100 percent of your earned income or $5000, whichever is less. Individuals age 50 and over can make an additional "Catch Up" contribution of $1000 for an annual total of $6000. The IRS may change contribution limits on an annual basis.

IRA's for a taxable year can be opened and/or funded anytime between the first day of the tax year and the date a tax return is due for that year, excluding extensions. For most taxpayers this due date is April 15 of the following year.

To start investing with Riverfront, Contact Us for an application.

For specific information regarding IRA rules and regulations and how they may apply to your individual circumstances you are encouraged to consult your tax or legal professional. Riverfront cannot offer tax or legal advice. You may also refer to IRS Publication 590.

Investment Disclosure