Your Benefits
Our Self Directed IRA Program allows you to choose the IRA Investment that best suits your financial retirement plan. You may choose from not only a wide range of First Bankers Trust Services Certificate of Deposit product offerings, but can select stocks, bonds, mutual funds, and other investment instruments that match your retirement planning goals.
Your Options
Traditional IRA
* Allows deferral of taxes on the earnings of contributions until they are withdrawn
* Certain contributions are tax deductible in the year for which they are made
* Requires earned income and for you to be under age 70 for the entire tax year for annual contributions
Roth IRA
* Allows only non-deductible contributions
* Features include certain tax-free withdrawal of earnings that after a five-year holding period
* Requires earned income and modified adjusted income cannot exceed certain limits
Rollover IRA
* This IRA gives you 60 calendar days to rollover a distribution to another IRA.
* Rollovers from IRA’s may not occur more than once during a 12-month period (this rule applies to each separate IRA you own).
Direct Rollover IRA
* This type of transaction occurs when an employee, former employee, or other eligible recipient directs the plan administrator to make a check or assets payable to a successor custodian/trustee.
* The distribution and subsequent rollover of the employer-sponsored plan assets allows the eligible recipient to avoid both taxation and the mandatory 20 percent federal tax withholding.
Coverdell Education Savings IRA (CESA)
* Features tax-free withdrawals for a child’s education expenses
* No age limit or earned income from contributor, but modified adjusted income cannot exceed certain limits
* Contributors can be non-individuals like corporations or tax-exempt organizations and these entities have no income restrictions
Simplified Retirement Plan IRA (SEP)
* An IRA Plan established by an employer, including sole proprietorships, partnerships, or corporations.
* Each year, the employer can contribute a certain percentage of eligible employee’s compensation directly to the employee’s traditional IRA.
Our Services
As Custodian, our experienced staff will help you decide which IRA meets your retirement planning goals. Compliance with all government regulations for IRA’s is of utmost importance. Our qualified staff of professionals has an in-depth knowledge of all applicable Internal Revenue Service laws and regulations.