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.
A Roth IRA provides tax-free income
Earnings are tax-free when withdrawn after the age of 59 1/2.
Roth IRA Contributions
If you're under the age of 50, you can contribute up to $6,500 per year.
If you're age 50 or older, you can contribute up to $7,500 per year.
No tax deduction
Your contributions are made with after-tax income so they're not tax deductible.
Roth IRA 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
Earnings can be withdrawn tax- and penalty-free after the age of 59 1/2 and the minimum 5-year holding period since the first contribution.
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.
A few financial insights for your life
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, Equal Housing Lender; 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.
Brokerage and investment advisory services are offered through First Citizens Investor Services, Inc., Member FINRA and SIPC. First Citizens Asset Management, Inc. provides investment advisory services.
Bank deposit products are offered by First Citizens Bank, Member FDIC.
See more about First Citizens Investor Services, Inc. and our investment professionals at FINRA BrokerCheck.
Account openings are subject to bank approval.
This information is provided for educational purposes only and should not be relied on or interpreted as accounting, financial planning, investment, legal or tax advice. First Citizens Bank (or its affiliates) neither endorses nor guarantees this information, and encourages you to consult a professional for advice applicable to your specific situation.