Roth IRA

  • Individuals must have earned income and file a tax return to open a Roth IRA
  • Maximum contribution is $6,000 under age 50 and $7,000 age 50 and over
  • Contributions are always non-deductible
  • Interest earned is tax free if withdrawn after 5 years of Roth participation and is considered qualified
  • No age limit for contributions if the owner has earned income
  • No required minimum distributions required at age 70 1/2 to owner or spouse beneficiary
  • Contribution deadline is the tax filing deadline - no extensions
 

Switch to Elk State Bank

Switching banks has never been easier. Access our new account form here.

Learn More

Lost or Stolen Debit Card?

To report a lost or stolen debit card call (888) 297-3416

Learn More

Holiday Spending Simplified

Simple budgeting throughout the year can provide you extra cash for the holidays. Open a Christmas Club account today.

Learn More

External Link Disclaimer

You are now leaving Elk State Bank website. Elk State Bank (including its directors, shareholders, employees, and affiliates) is not liable or responsible for the content, information, security, or failure of any products or services promoted or advertised on this third party site.

Continue

×

Email Disclaimer

Notice: Because there is a risk that information transmitted via Internet email could fall into the wrong hands, Elk State Bank suggests that confidential information, such as account numbers or social security numbers, not be transmitted via email. Instead, please contact Elk State Bank directly at your nearest bank branch.

Continue

×