Tax exceptions - You can avoid paying a tax penalty on early withdrawal if you use the money for a first-time home purchase, become disabled or face medical expenses that exceed 7.5% of your adjusted gross income. You can also use IRA money if unemployed to pay for health insurance premiums or for educational expenses.

Automatic monthly deductions - You can have IRA contributions deducted from your Irwin Union checking account.

Investment choices - Irwin Union Bank offers you the choice of different investments for your IRA such as money market funds and CDs.

The material on this page does not constitute tax advice.For advice on personal tax implications of the products described on this page, customer should consult with their tax advisor.

Distributions - There's no required age at which you must start taking distributions.

Withdrawals - You can withdraw your contributions any time without paying a 10% federal tax penalty. You can also withdraw earnings without paying federal income tax if your Roth IRA has been open at least five years, and you've reached age 59½; in the event of death or disability; and if you use the money for a first time home purchase ($10,000 lifetime limit).

Eligibility - To be eligible for a Roth IRA, your modified Adjusted Gross Income must be under $110,000 if single, and under $160,000 if married and filing jointly.

The material on this page does not constitute tax advice.For advice on personal tax implications of the products described on this page, customer should consult with their tax advisor.