Community Bank of Snyder offers a wide variety of IRA products to fit your investment needs. We offer Traditional and Roth IRA’s as well as Employer Plan to IRA rollovers. Community Bank of Snyder can also handle your Traditional and Roth IRA rollovers and transfers.
- 2010/2011 Contribution Limit $5,000.00
- Individuals who have attained age 50 before the close of the taxable year may contribute additional amounts, allowing them to “Catch Up” on their retirement savings. The “catch-up” amount is $1,000.00.
We offer an IRA Money Market Account that is a variable rate which you have access to for withdrawals. We also offer an 18 month, 24 month and 36 month Certificate of Deposit for IRAs which would be a fixed rate.
- Rollovers and direct rollovers from employer plans to traditional IRAs have distinct rules.
- A Rollover is available when employer plan assets are distributed to an eligible recipient. The recipient may roll all or part of the distribution to an IRA.
An eligible rollover distribution is the taxable portion of an employer plan distribution.
- The two methods used to move assets from one financial organization to another.
- Traditional IRA to traditional IRA.
- Roth IRA to Roth IRA.
- This transaction is only reportable to the IRS if an IRA owner has control of the assets.
For more information click on the Contact Us Link below or contact the New Accounts Department at (325) 573-2681.