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 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.
- 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?LEARN MORE
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.
- 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- Taxes are paid on earnings upon distributions being withdrawn from the IRA.
- If funds are withdrawn from a Traditional IRA before age 59 ½, those funds are subject to a 10% fee unless an exception applies to the withdrawal.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?LEARN MORE
Ready to take control of your retirement?
Create an account online, or contact us for further information.
Looking for a Business-Backed Account?
Such as: SEP IRAs, SIMPLE IRAs, 401Ks and ESOPs