FirstBank's Individual Retirement Account (IRA) provides a means of generating funds to supplement other retirement income. Any individual who received taxable compensation during the year, and is not age 70 1/2 by the end of the tax year is eligible to open a Traditional IRA. Traditional IRAs are not offered in the BVI.

• May offer you income tax benefits.
• Contributions can be deducted from your income for tax purposes.
• Assets from other retirement programs can be moved, tax free, to a traditional IRA.
• Withdrawals can be made at anytime.*
• The minimum investment is $2,500.

Application Procedure:

• Accounts may be opened at any FirstBank USVI Branch Location. Two valid forms of ID are required plus a Social Security number. Other forms of identification might be requested.

Related Products:

• Certificates of Deposit

Note: An individual may have a Traditional IRA whether or not they participate in any other retirement plan, however, may not be able to deduct all of their contributions if covered by an employer retirement plan.

Fees:

* Refer to the Traditional IRA Disclosure as well as the FirstBank Deposit Account Agreement provided at account opening. Penalties for early withdrawal, consult with your tax advisor for IRA Tax Rules.

Contact:

Visit any one of our branches on St. Croix, St. John, St. Thomas, Tortola or Virgin Gorda, or contact FirstLine Telebanking at (866) 695-2511 (USVI) or (284) 495-8899 (BVI).