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Roth IRA's allow only non-deductible contributions, but features tax-free withdrawals for certain distribution reasons, after a five-year holding period.  Tax-free means free from Federal Income Tax.
  • Eligibility depends on compensation and your modified adjusted gross income (MAGI).
  • No age limit for making contributions.
  • Earnings on your Roth IRA are non-taxable, with certain provisions.
  • Contributions are not subject to taxation or the 10% premature-distribution penalty tax, when distributed.
  • Assets held are not subject to age 72 required minimum distributions.
  • Minimum opening deposit of $100.
For more information, please contact the Fowler State Bank Customer Service Department at 765-884-1200 or 800-439-3951.