Please consult your tax adviser for more information regarding your individual situation. Unlike Traditional IRAs, contributions to a Roth IRA aren’t tax-deductible – however, they do give you the chance to build earnings that are completely tax-free when you withdraw them, as long as they are considered qualified. Roth IRAs also give you the option of continuing to contribute after you reach 70½ years of age.
Unlike traditional IRAs, you’re not required to take minimum distributions, so you may have more money to transfer to your beneficiaries in the event of your death. Please consult your tax advisor for more information regarding your individual situation.
Converting Your IRA
Converting your IRA may have significant tax consequences. Before you take this step, be sure to consult with a tax professional.
Rolling Over Your IRA
If you are retiring or changing jobs, ask your employer to arrange for a "direct rollover" of your money into a new IRA account with us, and you won’t pay the mandatory 20% withholding tax.
You can also do an IRA-to-IRA rollover. Complete the rollover within 60 days from the date you receive the assets from your old IRA to qualify. Just go to your financial institution and close your IRA, then bring the check to us. The IRS limits the number of these rollovers to one in a 12-month period.
- Offered through American Savings Bank
- FDIC-insured accounts
- Fixed CD term or Savings available
- Available through branches
- Offered through American Insurance and Investments
- May invest in stock, bonds, mutual funds and annuities
- Tailored to your investment strategy
- Not FDIC insured
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- The Roth IRA offers tax deferral on any earnings in the account. Withdrawals from the account may be tax free, as long as they are considered qualified. Limitations and restrictions may apply. Withdrawals prior to age 59 or prior to the account being opened for 5 years, whichever is later, may result in a 10% IRS penalty tax. Future tax laws can change at any time and may impact the benefits of Roth IRAs. Their tax treatment may change.
† Securities and insurance products are offered through Cetera Investment Services LLC (doing insurance business in CA as CFGIS Insurance Agency), member FINRA/SIPC. Advisory services are offered through Cetera Investment Advisers LLC. Neither firm is affiliated with the financial institution where investments are offered. Registered address and phone number: American Insurance and Investments, 1215 Hunakai Street, Honolulu, Hawaii 96816, toll-free (888) 343-5534.
This site is published for residents of the United States only. Registered Representatives of Cetera Investment Services LLC may only conduct business with residents of the states and/or jurisdictions in which they are properly registered. Not all of the products and services referenced on this site may be available in every state and through every advisor listed. For additional information please contact the advisor(s) listed on the site, visit the Cetera Investment Services LLC site at www.ceterainvestmentservices.com.