An individual retirement account, or IRA, is a personal, tax-advantaged retirement plan. An employed person can contribute earned income into an IRA up to a certain maximum amount per year. Federal tax laws dictate the level of participation and eligibility for an IRA.
IRAs offer you a tax-advantaged way to invest, while giving you a variety of investment options that have the potential to grow on a tax-deferred or tax-free basis.
Traditional/Roth IRA contributions must generally be made by April 15 to be effective for the previous tax year.
Establishing an IRA
You must be or become a member of Fort Knox Federal Credit Union and have a regular share (savings) account opened. You may open an IRA at any Credit Union branch. Simply determine the type of IRA you would like and complete the appropriate IRA application form.
IRA Online Resource Guide (PDF format)
Link will go to the IRS website.
Questions about IRAs? Email us. Note: Copy and paste "IRA question" in the subject line.