Navy Federal Credit Union
Navy Federal Credit Union

IRA

Get $100 when you open your first IRA with us.*

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're below the age of 70½.

Yearly Contribution Limits
Tax Year Under 50 Age 50 and over
2014 $5,500 $6,500
2015 $5,500 $6,500
Contribution Deadlines
Current tax year: December 31, 2015
Prior tax year: April 15, 2015
Income Limits for Tax Deductions
Income for Married Filing Joint Income for Single Filer Deductibility
$98,000 or less $61,000 or less Contribution is 100%
tax-deductible
Between $98,000 - $118,000 Between $61,000 - $71,000 A portion of your contribution is
tax-deductible
$118,000 or more $71,000 or more Your contribution is not
tax-deductible

Also Check Out...

Important IRA Information
House
Learn about the IRS changes going into effect Jan. 1, 2015.
*Offer effective Dec. 1, 2014. Navy Federal reserves the right to end or modify this offer at any time. Limit one IRA bonus per member. Offer only available to members who open their first IRA plan and deposit a minimum of $100 in their new IRA account. To receive this $100 IRA bonus, funds must be deposited into the new IRA account no later than 45 days after account opening. Once funds have been deposited to the IRA, Navy Federal will credit the bonus directly into your new IRA account within 30 days. The IRA bonus will be credited to your IRA in the form of a dividend and will not be reportable as a contribution. Members should consult with their own tax or legal advisor about the appropriate tax treatment of this bonus and any tax implications associated with it. Any taxes related to the IRA bonus are the member's responsibility. Navy Federal does not provide tax advice. Other restrictions may apply.
  • Mortgages5/5 ARM as low as+
    3.118%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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