IRA Information:

Traditional IRAs (Not employer-sponsored)

• The money in your account grows on a tax-deferred basis
• Your contributions may be tax-deductible (consult your tax advisor for deductibility in your situation)
• You mat withdraw money without penalty at age 59 1/2(premature withdrawals may be subject to ordinary income tax and a 10% tax penalty)
• Required minimum distributions must begin after age 72
• Avoid tax penalties by rolling over money from your previous company's 401(k) or 403(b) plan

Roth IRAs (Not employer-sponsored)

• The money in your account grows tax-free, however contributions are not tax-deductible as with a Traditional IRA
• Tax-free withdrawals in retirement if you have reached age 59 1/2 and have held the account at least five years (premature withdrawals may be subject to ordinary income tax and a 10% tax penalty)
• You are not required to begin taking distributions at age 72

SEP IRAs

A SEP (Simplified Employee Pension) IRA is a Traditional IRA set up under a written arrangement that allows employers to contribute to the IRA on the employee’s behalf (employer contributions may be discretionary). Generally, SEP IRAs have the same rules and requirements as Traditional IRAs.

Rollovers and Transfers

Southwest Capital Bank can help individuals set up a Traditional or Roth IRAs to keep retirement savings on track during life transitions — and make the entire process seamless.

*Please consult your tax advisor for information regarding tax benefits.

FDIC:

Certain Retirement Accounts

A retirement account is insured under the Certain Retirement Accounts ownership category only if the account qualifies as one o the following:

• Individual Retirement Account (IRA)
• Traditional IRA
• Roth IRA
• Simplified Employee Pension (SEP) IRA
• Savings Incentive Match Plans for Employees (SIMPLE) IRA

Self-directed defined contribution plan account includes:

• Self-directed 401(k) plan
• Self-directed SIMPLE IRA held in the form of a 401(k) plan
• Self-directed defined contribution profit-sharing plan

Self-directed Keogh plan account (or H.R. 10 plan account) designed for self-employed individuals

Section 457 deferred compensation plan account, such as an eligible deferred compensation plan provided by state and local governments regardless of whether the plan is self-directed