Types of IRA Accounts for Individuals 

Gain tax-free or tax-deferred benefits that a self-directed IRA provides. When seeking an account for individual purposes, Accuplan Benefits Services has an account type that will fit everyone’s needs. Invest in a wide variety of alternative assets, save money for the future, and do it all with confidence. 


Roth IRA 

Roth individual retirement accounts provide savers the opportunity to contribute to a Roth with after-tax dollars, up to a specific amount each year. Distributions can be taken at age 59 ½ without penalty and tax-free.  

Features: 

  • Contributions are not tax-deductible, and eligibility depends on income levels. 
  • Following all IRS laws will ensure all contributions are 100% tax-free.
  • Once funds have been contributed into a Roth account for at least five years, the account holder may withdraw contributions plus principal earned with no tax or penalty. 
  • Roth IRAs have no RMD requirements. 

Want to learn more about distributions, contributions, and anything pertaining to Roth IRAs? 

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Traditional IRA

Traditional IRA account contributions are made with pre-tax dollars, meaning the account holder will pay taxes when taking distributions upon retirement age 59 ½. 

Features

  • The eligibility of contributions being tax-deductible is dependent on income level. 
  • Taxes are paid on earnings upon distributions being withdrawn from the IRA. 
  • If funds are withdrawn from a Traditional IRA before age 59 ½, those funds are subject to a 10% fee unless an exception applies to the withdrawal. 

Want to learn more about distributions, contributions, and anything pertaining to Traditional IRAs? 

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