Individual Retirement Accounts

Individual Retirement Accounts

First Bankers Trust offers a Self Directed IRA Program. A Self Directed IRA Program allows the customer to choose the IRA investment that best suits their financial retirement plan. The customer may choose from not only a wide range of First Bankers trust Certificate of Deposit product offerings, but can also choose stocks, bonds, mutual funds and other investment instruments that the customer feels matches their retirement planning goals.

Traditional IRA

Are you wanting to use tax-free contributions to invest in your retirement? Our Traditional IRA may be just what you are looking for!

Allows you to defer taxes on the earnings on your contributions until they are withdrawn.

Certain contributions are tax deductible in the tax year for which they are made.

Eligibility requires an earned income and for you to be under the age 70 ½ for the entire tax year.

Roth IRA

Are you looking for a retirement that has tax-savings, tax-free earnings, and retirement security?
Check out the Roth IRA we have to offer.

  • Allows only non-deductible contributions
  • Features include a tax-free withdrawal for certain distribution reasons after a five- year holding period. Eligibility requires an earned income (or your spouse must have earned income) and your modified adjusted income cannot exceed certain limits.

Coverdell Education IRA (CESA)

Looking for ways to invest in your child or grandchild's education? The CESA IRA may be the answer.
Features tax-free withdrawals for a child's education expenses.

Higher education distributions are penalty free and federal income tax free. Eligibility requires no age limit or earned income from contributor, but your modified adjusted gross income cannot exceed certain limits.

Contributors can be non-individuals like corporations or tax-exempt organizations. These entities have no income restrictions.

Simplified Retirement Plan IRA (SEP)

Are you an employer looking for retirement options for your employees? The SEP IRA may be what you need.

This is an IRA plan that is established by an employer.

Each year, the employer can contribute a certain percentage of eligible employee's compensation directly to the employee's traditional IRA.

Eligibility includes any business owner, whether incorporated or not. Sole proprietors and partnerships can have SEP's, even if there are no employees.

Rollover IRA

Are you looking for reinvestment options from your previous employer's retirement plan? See if this option will work for you!

This IRA gives you 60 calendar days to rollover a distribution to another IRA.

Rollovers from IRA's may not occur more than once during a 12-month period (this rule applies to each separate IRA you own).

Direct Rollover IRA

Interested in reinvesting your current employer-sponsored retirement plan?

This type of transaction occurs when an employee, former employee, or other eligible recipient directs the plan administrator to make the check or assets payable to a successor custodian/trustee.

The distribution and subsequent rollover of the employer-sponsored plan assets allows the eligible recipient to avoid both taxation and the mandatory 20 percent federal income tax withholding.