Roth IRA | Allegent Community Federal Credit Union
join Allegent button  apply for a loan button

Roth IRA

Roth IRAs are generally not tax deductible. Please consult your tax advisor for more information.

  • Invest up to $6,000 per year ($7,000 if you’re age 50 and over).
  • After five years, contributions earned can be withdrawn, IRS penalty free, in order to buy a first home or for any purpose after age 59 1/2.
  • Contributions from earned income can be made after 70 1/2. Distributions are not required.
  • Transfer funds from existing IRAs to a new conversion ROTH IRA (subject to taxation).