Roth IRA

Complement your total retirement strategy

Roth IRA Eligibility

A Roth IRA provides tax-free income

Earnings are tax-free when withdrawn after the age of 59 1/2.

  • The income you contribute must be earned the same year you make the contribution
  • Modified adjust gross income requirements vary from year to year

Roth IRA contributions

Maximum contribution

You can contribute up to $7,000 per year until you're 50 years old.

Catch-up contribution

If you're between the ages of 50 and 70, you can contribute up to $8,000 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 older than 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Earnings can be withdrawn tax- and penalty-free after the age of 59 1/2 and the minimum 5-year holding period since the first contribution.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.

Insights
A few financial insights for your life

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Your investments in securities and insurance products and services are not insured by the FDIC or any other federal government agency and may lose value.  They are not deposits or other obligations of, or guaranteed by any bank or bank affiliate and are subject to investment risks, including possible loss of the principal amounts invested. There is no guarantee that a strategy will achieve its objective.

About the Entities, Brands and Services Offered: First Citizens Wealth™ (FCW) is a marketing brand of First Citizens BancShares, Inc., a bank holding company. The following affiliates of First Citizens BancShares are the entities through which FCW products are offered. Brokerage products and services are offered through First Citizens Investor Services, Inc. ("FCIS"), a registered broker-dealer, Member FINRA and SIPC. Advisory services are offered through FCIS, First Citizens Asset Management, Inc. and SVB Wealth LLC, all SEC registered investment advisors. Certain brokerage and advisory products and services may not be available from all investment professionals, in all jurisdictions or to all investors. Insurance products and services are offered through FCIS, a licensed insurance agency. Banking, lending, trust products and services, and certain insurance products and services are offered by First-Citizens Bank & Trust Company, Member FDIC, and an Equal Housing Lender, and SVB, a division of First-Citizens Bank & Trust Company. icon: sys-ehl

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FirstCitizens.com/Wealth/Disclosures

SVB.com/Private-Bank/Disclosures/Form-ADV

See more about First Citizens Investor Services, Inc. and our investment professionals at FINRA BrokerCheck.

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