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Plan ahead and prepare for your retirement with First Reliance Bank IRAs. IRA Certificates of Deposit and IRA Savings accounts are FDIC insured for up to $250,000 per depositor*. There's no annual fee. For more complete information and to open a Traditional,Roth or Rollover IRA visit any First Reliance Bank branch or call our ACCESSLive Call Center 1-888-543-5510
Traditional IRAs
Traditional IRAs defer taxes until you start withdrawing your money. All or part of your contributions may be tax deductible. Types of traditional IRAs include: Regular, Spousal, Inherited IRA, Simple, Rollover and SEP IRAs
With Roth IRAs your contributions are not tax-deductible. However, earnings on your IRA are tax deferred and your withdrawals may be free of federal income tax**. Type of IRAs include: Individual Roth, Spousal Roth, and Inherited IRA.
Rollover IRAs
If you leave your job, you can take your 401(k) with you by transferring it directly into a Rollover IRA at First Reliance Bank. And you can better manage your retirement savings by consolidating plans from former employer 401(k)s and any other personal retirement accounts you may have into one IRA.
Still have questions? *On October 3, 2008, FDIC deposit insurance temporarily increased from $100,000 to $250,000 per depositor through December 31, 2009. **The information and examples presented above are based on current tax laws and regulations that are subject to change at any time. Consult your tax advisor regarding the deductibility of IRA contributions and charges. Offer available to residents in the metropolitan statistical areas of Charleston, Columbia, and Florence as defined by the U.S. Office of Management and Budget. Early Withdrawal Fee of $10 each occurrence and an IRS penalty of 10% of the amount withdrawn. $75 transfer fee to another financial institution. Please refer to your IRA account disclosure statement for other details relating to your IRA. |
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