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IRA Accounts

Coast Central can help you prepare for the retirement you deserve. Few retirement options are as straightforward as IRAs, and we have a wide assortment to choose from.

Individual Retirement Accounts (IRAs) Information

Traditional & Roth IRAs

Changes to Existing Retirement Accounts

Other Savings Options

For Business

Use the table below to compare the features of each:

Individual Retirement Accounts

  • Contributions are tax-deferred

    Contributions are tax-deferred

  • Contributions may be tax-deductible

    Contributions may be tax-deductible

  • Earnings are tax-free

    Earnings are tax-free

  • Used for

    Used for

  • Early withdrawal penalty before age 59.5

    Early withdrawal penalty before age 59.5

  • Must file a tax return to contribute

    Must file a tax return to contribute

  • Regular contributions allowed

    Regular contributions allowed

  • Withdrawals at any time (subject to tax)

    Withdrawals at any time (subject to tax)

Traditional

  • Contributions are tax-deferred

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  • Contributions may be tax-deductible

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  • Earnings are tax-free

  • Used for

    Tax-deductible contributions

  • Early withdrawal penalty before age 59.5

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  • Must file a tax return to contribute

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  • Regular contributions allowed

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  • Withdrawals at any time (subject to tax)

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Roth

  • Contributions are tax-deferred

  • Contributions may be tax-deductible

  • Earnings are tax-free

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  • Used for

    Saving & withdrawals

  • Early withdrawal penalty before age 59.5

  • Must file a tax return to contribute

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  • Regular contributions allowed

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  • Withdrawals at any time (subject to tax)

SEP

  • Contributions are tax-deferred

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  • Contributions may be tax-deductible

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  • Earnings are tax-free

  • Used for

    Sole proprietors

  • Early withdrawal penalty before age 59.5

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  • Must file a tax return to contribute

  • Regular contributions allowed

  • Withdrawals at any time (subject to tax)

ESA

  • Contributions are tax-deferred

  • Contributions may be tax-deductible

  • Earnings are tax-free

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  • Used for

    Education*

  • Early withdrawal penalty before age 59.5

  • Must file a tax return to contribute

  • Regular contributions allowed

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  • Withdrawals at any time (subject to tax)

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HSA

  • Contributions are tax-deferred

  • Contributions may be tax-deductible

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  • Earnings are tax-free

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  • Used for

    Medical expenses

  • Early withdrawal penalty before age 59.5

  • Must file a tax return to contribute

  • Regular contributions allowed

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  • Withdrawals at any time (subject to tax)

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*Beneficiary must be a minor
**distributions are tax-free
Note that none of these accounts may be used as loan collateral

More about IRAs and related services.

Financial Planning

Work toward your financial goals and dreams with professional planning and advice.
More on Financial Planning

Online & Mobile Banking

Track your savings from your home computer or smartphone.
Online & Mobile Banking

E-Services

Stay one step ahead of your money with e-statements, e-letters, and e-alerts.

Located on the menu in your Online or Mobile Banking home page.