|Are you worried about your life post retirement? Then its time to put to an end to all your worries as the Chase IRA Savings account takes care of all your finances after retirement. The Chase IRAs have been designed in such away that it suits your financial needs. Moreover the bank also provides you with a financial advisor who continuously and dedicatedly works to help you determine the kind of investments that you should make. They also advice you that which type of IRA is best for you. Moreover, the bank also provides account login facility to all the Chase IRA account holders so that they can have online access to their account.
Following are the types of IRA that are provided by the Chase Bank:
Traditional IRA: This type of IRA account can be opened by all those individuals whose age is below 70. The maximum amount of deposit that one can make in this account is 100% of the income up to $5,000. All the contributions that you make in this account will be come under tax deduction. However, you do not have to pay any type of tax until and unless you withdraw money.
Roth IRA: This type of IRA account is mainly opened by those individuals who have a modified Adjusted Gross Income (MAGI) from $110,000 to $125,000. The most important benefit of this account is that there is no age for making the contributions and all the contributions that ypou make is exempted from the Federal tax.
Chase IRA Rollover
Chase Bank allows an individual to rollover or convert a traditional IRA to a Roth IRA. One can also convert a traditional IRA or roll over an employer-sponsored retirement plan to a Roth IRA. The bank does not impose any type of MAGI limitations for converting the IRAs. However, you will have to pay taxes on the amount of conversion. You can also take the help of the Roth Conversion Calculator that is provided in the website of the bank with the help of which you can find out the benefits of the IRA rollovers. However, you are requested to consult with your Financial Advisor to know whether the IRA conversion is required for you or what are the benefits that you can get by making the IRA conversion.
Chase IRA Terms of Withdrawal
In case of the Traditional IRA if you withdraw money before you attain the age of 59 then you will have to pay a penalty of 10% IRS. However, you can make some withdrawals with out paying penalty. In case of the Roth IRA there is no penalty for making withdrawals and all the earnings are tax free. Even if you withdraw money for purposes like withdrawals like qualified higher education expenses, first-time home purchases prior to the five-year holding period even then no penalty is imposed.
Chase IRA Interest Rate
Given below is the table for the interest rate that is applied on the Chase IRA.
|Minimum Amount($)||Interest Rates|
All the interest rates given above are subjected to market risks and fluctuations and therefore you are requested to consult with the bank before applying for the Chase IRA.
Chase IRA Transfer Form
If you are planning to open a Chase Bank IRA account then you can do so by downloading the Chase IRA application form from the website of the bank in PDF format, fill the form with all the important details like Investor Information, Instructions to Current IRA Custodian or Plan Administrator, age information and send the completed application form to the below mentioned address:
c/o U.S. Bancorp Fund Services, LLC
PO Box 701
Milwaukee, WI 53201-0701
The overnight Express mailing address for the Chase IRA is
c/o U.S. Bancorp Fund Services, LLC
615 E. Michigan St., FL3
Milwaukee, WI 53202-5207
Chase IRA Customer Service
If you have any type of queries related to the Chase IRA then you can at any time dial the toll free customer service number 888-861-7556 and know more information related to the Chase IRA like account fees, bank rating, SEP. In addition to this you can also visit the website of the bank or step in to the nearest Chase Bank.