Individual Retirement Accounts

Cincinnatus offers both Traditional IRA's as well as Roth IRA's. IRA accounts can be opened in any of our Certificate of Deposit account types. Your account is FDIC insured up to $250,000.00. With a traditional IRA you may be able to save on your present taxes by deducting qualified contributions from your taxable income. The amount you can deduct depends on several factors including your income, martial status, and if you are an active participant in an employer sponsored plan. Both Traditional and Roth IRA's help you to save on taxes by deferring taxes on the earnings until you retire when you are more likely to be in a lower tax bracket. For more information contact us, for specific information on the tax deductibility of your contribution please contact your tax advisor.

IRA Rollovers

Retiring or switching employers? Cincinnatus can rollover the money from your current pension plan to a Cincinnatus Certificate of Deposit. If you withdraw money from your employer's plan due to retirement or changing employers you may have tax issues unless you rollover the money into a qualified IRA plan. The rollover must be completed within 60 days from when you receive the funds so that you are not subject to the 20% withholding penalty. Contact us today and we can help to make sure your rollover is handled promptly and in compliance with current IRS regulations.

Large Deposits