* A non-interest bearing account for consumers. Personalized printed checks may be purchased through us or a vendor of your choice.
*Disclosure available upon request
This account allows you to defer taxes on your earnings. Also, contributions may be tax deductible for the tax year in which they are made. The IRA deposit limits have increased to $6,000.00 per year for individual/year and $7,000.00 per year for individuals 50 years old and over. Contribution amounts can vary depending on your income level.
This account features tax-free withdrawals after reaching age 59 1/2 and maintaining your ROTH for 5 years. When you take a distribution at that time, you pay no taxes on any of the earnings that your money has accumulated.
Contributions to a Roth IRA are not tax deductible.
Contact your tax advisor to find out how an IRA could help you meet your financial goals.
To become a new customer, click on the link for the Consumer Information Sheet. Please fill out the form and bring it in to either our Grand Marais or Tofte location.