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
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
- 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
- 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
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
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.
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.