Roth IRA

Complement your total retirement strategy

Build a Nest Egg

Create your own retirement account with after-tax income.

Get Tax Advantages

Protect your investment earnings from being taxed.

Access Your Money

Withdraw contributions penalty-free at any time.

Eligibility

A Roth IRA provides tax-free income

Earnings are tax-free when withdrawn after the age of 59 1/2.

  • You can participate at any age
  • The income you contribute must be earned the same year you make the contribution
  • Modified adjust gross income requirements vary from year to year

Contributions

Maximum contribution

If you're under the age of 50, you can contribute up to $5,500 per year.

Catch-up contribution

If you're age 50 or older, you can contribute up to $6,500 per year.

No tax deduction

Your contributions are made with after-tax income so they're not tax deductible.

Withdrawals

No minimum required distribution

If you're over the age 59 1/2 and your account has been open for 5 years, all withdrawals are tax- and penalty-free.

Withdraw without penalty

Contributions can be withdrawn tax- and penalty-free at any time.

Penalty for early disbursements

If you withdraw any earnings before the age of 59 1/2, there's a 10% penalty fee.

Not sure where to start? Let us help you down the path to successful retirement.

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Your investments in securities, annuities and insurance are not insured by the FDIC or any other federal government agency and may lose value. They are not a deposit or other obligation of, or guaranteed by any bank or bank affiliate and are subject to investment risks, including possible loss of the principal amount invested. Past performance does not guarantee future results.

First Citizens Wealth Management is a registered trademark of First Citizens BancShares, Inc. First Citizens Wealth Management products and services are offered by First-Citizens Bank & Trust Company, Member FDIC; First Citizens Investor Services, Inc., Member FINRA and SIPC, an SEC-registered broker-dealer and investment advisor; and First Citizens Asset Management, Inc., an SEC-registered investment advisor.

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