Individual Retirement Accounts (IRAs)

Individual Retirement Accounts (IRAs)

Contributing regularly to an IRA can help ensure your golden years are, in fact, golden. Best of all, you enjoy serious tax advantages while building a secure financial future for yourself and your family. American Trust offers traditional, Roth, and Coverdell (education) IRAs, all with no maintenance fees.

Traditional IRA

Anyone with income and under the age of 70½, can open a traditional IRA.

  • Contributions are tax deductible*
  • Interest earnings are tax deferred
  • Withdrawals can begin at age 59½
  • Early withdrawals subject to penalty**
  • Mandatory withdrawals begin at age 70½
  • $10 minimum to open
  • No maintenance fees
  • FDIC insured

Residents within a 100-mile radius of Dubuque, Dyersville, or West Des Moines, Iowa only please.

Self-directed IRAs are available through American Trust Investment Services.

*Consult with a tax advisor.

**Certain exceptions apply, such as healthcare, purchasing first home, and others.

If you close your account before interest is credited, all accrued interest will be paid.

Roth IRA

To open a Roth IRA, your income must be less than $95,000 annually ($150,000 for married couples). If you are eligible, a Roth IRA can provide tax-free earnings, though contributions are not deductible.

  • Contributions are not tax deductible
  • Earnings are 100% tax free upon withdrawal
  • Direct contributions can be withdrawn free of penalty at any time*
  • Interest withdrawals are penalty free beginning at age 59½
  • Early interest withdrawals subject to penalty**
  • No mandatory withdrawals at age 70½
  • $10 minimum to open
  • No maintenance fees
  • FDIC insured

Self-directed IRAs are available through American Trust Investment Services.

*Consult with a tax advisor.

**Certain exceptions apply, such as healthcare, purchasing first home, and others.

If you close your account before interest is credited, all accrued interest will be paid.

Coverdell ESA

The Coverdell Education Savings Account (formerly called Education IRA) provides tax-free earnings when the funds are used for a child's education expenses, such as college.

  • Interest grows tax free
  • Withdrawals are tax free when used for qualified education expenses*
  • Contributions are not tax deductible
  • No income restrictions or limits to open
  • Beneficiary must be under 18 at time of opening
  • Beneficiary does not have to be a relative
  • Mandatory distributions begin if balance remains when beneficiary reaches age 30
  • Maximum annual contribution of $2,000
  • No maintenance fees
  • FDIC insured

*Qualified expenses include tuition and fees, books, supplies, room and board, etc.

If you close your account before interest is credited, all accrued interest will be paid.