Traditional IRA


Earned income

Contribution Limit
(Age 49 or below)

The lesser of:

100% of income

Contribution Limit
(Age 50 or above)

The lesser of:

100% of income

Tax Benefit

If your contribution is tax deductible, then you receive an immediate tax savings because you pay fewer taxes with the deductions. The earnings generated by the IRA funds are not taxed until distributed.

If your contribution is not tax deductible, you still receive the benefit of tax deferred earnings. You may also qualify for a new tax credit.


You may begin withdrawals at any time. However you may want to understand the income tax consequences of taking distributions at certain times.

You are required to make a withdrawal of a minimum amount by April 1st of the year following the calendar year in which you reach age 72 and by each December 31st thereafter.

Ready to start planning your retirement? Stop by any FCB Banks location. Our new account representatives would be happy to help you plan for your future.

Not what you’re looking for? Check out our Roth IRA or Coverdell Education Savings Account instead.

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