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Individual Retirement Accounts: Better Than Ever
Individual Retirement Accounts (IRA) create value for you to save for your retirement years and for funding education expenses.  Education IRAs are now known as Coverdell Education Savings Accounts (ESA).

Big Sky Western Bank Savings IRA- start one today for as little as $50, then add to it whenever you wish.  Below is additional information on the IRA Plans offered by Big Sky Western Bank.

Traditional IRA

  • Must have earned income and not reach age 70½ by end of year
  • Annual IRA contribution limits are set for each year; see IRS guidelines.
  • Annual limit applies to any combination of IRA plans other than the ESA
  • Contributions are fully tax-deductible if you are not an active participant in an employer retirement plan
  • Contributions up to the limit are fully tax deductible if you are not an active participant in a retirement plan, otherwise phase-out rules apply.
  • Investments grow on a tax-deferred basis
  • Earnings are taxed only upon withdrawal
  • Opportunity for early withdrawal - Ask us about special circumstances

Roth IRA

  • Contribute to a Roth IRA even after age 70 ½, with earned income
  • Contributions will not be tax deductible, but the contributions and earnings can be withdrawn tax-free.
  • Annual IRA contribution limits are set for each year; see IRS guidelines.
  • No required minimum distributions after reaching age 70 ½.
  • Convert your traditional IRA to a Roth IRA, to take withdrawals tax-free, but is subject to income tax now.
  • Opportunity for early withdrawal - Ask us about special circumstances

Please call Big Sky Western BankSM  at (406) 587-2922 for more information on Individual Retirement Accounts.

+Other fees may apply.  See Schedule of Fees for details.