Traditional IRA Traditional IRAs are perfect for tax deferred retirement savings. Contributions to a Traditional IRA may be tax deductible . And with a Traditional IRA, you don't have to pay any taxes on your deductible contributions and earnings until you make withdrawals from the account. Since your annual contributions are non-deductible, they can be withdrawn tax and penalty free at any time. Plus, all of your earnings are tax-free with qualified withdrawals .
Withdrawals are tax-free when used for qualified education expenses .
Current IRA Rates All of our IRA accounts are available with different schedules to make it easier than ever to plan your retirement savings program. To setup an IRA, just visit your local Sanwa Bank Branch and one of our friendly representatives will assist you. Contributions can be made by family members and non-family members. When child reaches 30 full distribution required. Additional conditions and restrictions may apply.