With this IRA certificate option, you'll be able to withdraw contributions and earnings tax-free starting at age 59 ½, and you will not be required to take distributions at any time because you already paid taxes on this money when you first deposited it. Your tax advisor or HawaiiUSA's financial advisors can explain additional tax benefits.
- $100 minimum opening deposit
- Make contributions at any age (deposits are non-deductible)
- Maximum annual contribution is $5,500 ($6,500 for age 50 and up)
- Withdraw contributions tax- and penalty-free anytime
- Withdraw earnings tax-free if you have held Roth IRA more than five years and you are age 59 ½ or older
- These qualified exceptions* allow withdrawals before age 59 ½:
- First-time home purchase
- Higher-education expenses
- Medical expenses
- Military reservist status
- Death/Beneficiary of a deceased IRA owner
* Taxes are still paid on the money you withdraw.