Navy Federal Credit Union
Navy Federal Credit Union

IRA

Get Up to $200 When You Open Your First IRA!

Open your first IRA Plan with as little as $100, and we'll give you $100.1

Members with Account Access

(Under Account Services tab, click on "Open an IRA")

Members without Account Access

Get an additional $100 when you fund your first IRA Plan with a rollover or IRA transfer
for a minimum deposit of $5,000.2

With an IRA (Individual Retirement Arrangement), you choose the plan that's right for you. The links below will help you with your selection. Depending on your choice, you may be able to take a tax deduction for Traditional IRA contributions, or withdraw the earnings on a Roth IRA tax free. Our online features make it easy to establish an IRA, name your beneficiary(ies), and view and manage your account.

Traditional and Roth IRA Comparison Chart

Things to Consider

Direct Transfers and Rollovers

Appointing Beneficiaries

Have questions? You can visit a branch, send us an eMessage, or contact us at 1-888-842-6328.

Traditional IRA

Traditional IRAs are potentially tax-deferred retirement plans; you don't pay taxes on your contributions until you withdraw the funds. Contributions can be made as long as you have earned income and you are below the age of 70½.

Yearly Contribution Limits
Tax Year Under 50 Age 50 and over
2013 $5,500 $6,500
2014 $5,500 $6,500
Contribution Deadlines
Current tax year: December 31, 2014
Prior tax year: April 15, 2014
Income Limits for Tax Deductions
Income for Married Filing Joint Income for Single Filer Deductibility
$96,000 or less $60,000 or less Contribution is 100%
tax-deductible
Between $96,000 - $116,000 Between $60,000 - $70,000 A portion of your contribution is tax-deductible
$116,000 and above $70,000 or more Your contribution is not
tax-deductible

Also Check Out...


Offer effective January 6, 2014. Navy Federal reserves the right to end or modify this offer at any time. 1Limit one $100 IRA bonus per member. Offer only available to members who open their first Navy Federal IRA plan and deposit a minimum of $100 in their new IRA account. 2Get an additional $100 IRA bonus by funding your first Navy Federal IRA plan with a rollover of a qualified retirement plan (such as Thrift Savings Plan (TSP), pension plan, or 401(k)) or an IRA transferred from another financial institution with a minimum deposit of $5,000. Only one additional $100 IRA bonus for rollover/IRA transfer deposits per member. To receive the $100 IRA bonus and/or the additional $100 IRA bonus for rollover/IRA transfer deposits, funds must be deposited into the new IRA account no later than 45 days after the IRA plan open date. Once funds have been deposited into the new IRA account, Navy Federal will credit the bonus(es) directly into your new IRA account within 30 days. The IRA bonus(es) will be credited to your new IRA account in the form of a dividend and will not be reported as a contribution. Members should consult their tax or legal advisor about the appropriate tax treatment of the bonus(es) and any tax implications associated with it/them. Any taxes related to the IRA bonus(es) are the member's responsibility. Navy Federal does not provide tax advice. Other restrictions may apply.

  • Mortgages5/5 ARM as low as+
    3.403%APR
  • Auto Loansas low as+
    1.49%APR
  • Certificatesas high as
    3.00%APY
  • Checkingas high as
    0.45%APY
  • Credit Cardsas low as++
    7.99%APR
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