IRAs

Enjoy tax-deferred, dividend income and the ability to save for your family’s future with our federally insured Individual Retirement Accounts. Choose from an IRA savings or a variety of IRA certificates for Traditional, Roth or Coverdell IRA. Plus, enjoy no administration or monthly fees on your Columbia IRA.

Calculate your Required Minimum Distribution

Program Description Who Can Contribute?1 2016
Contribution
Limits2
Traditional IRA Tax-deferred retirement savings contributions with possible tax deductions. Deductions may be limited if you (or your spouse, if you are married) are covered by a retirement plan at work and your income exceeds certain levels. Visit the IRS website to learn more about  Traditional IRA deductibility limits. Individuals younger than 70½ years with earned income.
under age 50 $5,500
50 or older $6,500

1For Roth and Coverdell Education IRAs a contribution phase-out period applies to contributors whose income falls within the phase-out range.
2Or 100% of earned income, whichever is less. Other restrictions apply.

Program Description Who Can Contribute?1 2016
Contribution
Limits2
       
Roth IRA Non-deductible retirement savings contributions that feature tax-free withdrawals on your earnings after five years and when you reach 59 ½ years or a qualifying event. Visit the IRS website to learn more about 2016 Roth IRA contribution limits. Individuals, any age with earned income. The same general contribution limit applies to both Roth and Traditional IRAs. However, your Roth IRA contribution might be limited based on your filing status and income.
For 2016, if your filing status is… And your modified AGI is… Then you can
contribute…
married filing jointly or qualifying widow(er) less than $184,000 up to the limit
greater than $184,000 but less than $194,000 a reduced amount
greater than $194,000 zero
married filing separately and you lived with your spouse at any time during the year less than $10,000 a reduced amount
greater than $10,000 zero
single, head of household,or married filing separately and you did not live with your spouse at any time during the year less than $117,000 up to the limit
greater than $117,000 but less than $132,000 a reduced amount
greater than $132,000 zero
under age 50: $5,500
50 and older $6,500

1For Roth and Coverdell Education IRAs a contribution phase-out period applies to contributors whose income falls within the phase-out range.
2Or 100% of earned income, whichever is less. Other restrictions apply.

Program Description Who Can Contribute?1 2016
Contribution
Limits2
       
       
Coverdell
Education IRA
A tax-deferred investment account created for paying education expenses on behalf of a beneficiary (up to the age of 18). Anyone can contribute. Individuals must earn less than $110,000 if filing single, and joint taxpayers must earn less than $220,000 to make a contribution. The phase out range for married couples filing a joint return is $190,000-$220,000 (partial contribution only). The phase out range for singles is $95,000-$110,000 (partial contribution only). $2,000 per year per beneficiary

1For Roth and Coverdell Education IRAs a contribution phase-out period applies to contributors whose income falls within the phase-out range.
2Or 100% of earned income, whichever is less. Other restrictions apply.

IRA Planning Center Within our IRA Planning Center you can:

  • Open an IRA
  • Access your existing IRA
  • Learn about IRAs
  • Calculate Required Minimum Distributions
  • Determine your deductible IRA contribution
  • Explore steps toward retirement at various life stages
  • And lots more …

Go to IRA Planning Center