We can help make all those daydreams come true.
Friends and free time. Grandkids and great moments. New hobbies and old favorites. Looking forward to retirement can be a pretty pleasant pastime. But to make the most of your golden years, you'll want to start financial planning well in advance. At United Bank, we offer tax-advantaged retirement accounts designed to put a nice big pot of gold at the end of your rainbow.
- Contribute up to $6,000 per year (up to $7,000 if over age 50)
- Withdrawals prior to age 59 ½ may be taxed and subject to 10% IRS penalty (See IRS Publication 590 for qualified early withdrawals)
- IRAs with United Bank are invested in safe, secure Certificates of Deposit
- IRAs offering other investment opportunities are available through United Bank's Financial Services Division
The two types of IRAs that allow for individual contributions are Traditional IRAs and Roth IRAs. For more details, see IRS Publication 590.
- Annual contributions may be deductible*
- All earnings are tax-deferred until withdrawn
- Accounts can also be funded by rollovers from qualified retirement plans, including 401(k) plans
- Required distributions must begin in the year IRA holder turns 72
- Contributions are made with after-tax dollars
- Annual earnings and qualified withdrawals are tax-free
- Tax-free withdrawals can begin after age 59 ½ if the Roth IRA has been funded for more than five years
- No limits on when withdrawals must begin
* Please consult your tax professional regarding deductibility and eligibility of your IRA deposits as well as taxation on distributions.
United Bank is a full-service financial institution with branches in Alabama and Florida.