Traditional IRAs

• Maximum annual contribution of $5,000
• All income taxes on dividends are deferred until you reach the age of 591/2
• Deposits may be tax-deductible
• Penalties apply for early withdrawal
• If you are over 50 years of age, you can make an extra $1,000 "catch up" contribution each year, for a total maximum annual contribution of $6,000.

For some, the amount deposited in an IRA may be subtracted from income for tax purposes depending on your income and whether you or your spouse has a 401K or a pension from your employer.

• Traditional Application Packet
• Traditional Contribution Form
• Traditional Rollover and Transfer Contribution Form
• Traditional Withdrawal Form

Consult with your tax advisor regarding deductibility of deposits and withdrawal restrictions on each of these IRAs.

If you have further questions about IRAs or the forms above, please contact the IRA Coordinator at 303-657-7000