Traditional IRA

First Republic offers a traditional IRA with tax-deferred earnings for clients at any income level, helping you to grow your money today and ensure you have additional income during retirement.
Benefits
  • Contributions may be tax-deductible depending on income and other factors
  • Tax-deferred earnings until funds withdrawn
  • Not subject to bank trustee fees
  • No income limits
  • FDIC-insured to legal maximum
Product Details
  • Interest compounded daily
  • Annual contribution limit of $5,500 or the amount of your taxable compensation (If age 50 or above, $6,500), whichever is less
  • Contributions to Roth IRAs count toward annual limit
  • Earned income required
  • Tax deductibility reduced or eliminated if covered by employer-sponsored retirement plan; this varies based on income
  • Contributions up to age 70½, when mandatory minimum withdrawals must begin
  • 10% IRS penalty for withdrawals before age 59½
  • Can be converted to Roth IRA regardless of income or tax filing status
  • Beneficiaries may pay income tax on proceeds upon inheritance
  • Set up as Certificate of Deposit, Money Market Savings or Passbook Savings account
  • Must be under age 70½ to contribute
  • Requires earned income by participant or spouse (if filing a joint tax return) equal to or greater than contribution
Featured Services
  • ATM Card and ATM/Debit Card

    The First Republic ATM Card and ATM/Debit Card allow you to access your funds worldwide.

  • Student Loan Refinancing

    Refinance your student loans with the Eagle Gold All-in-One loan and put your savings to work.

  • Wire Transfers

    For quick, safe and reliable transfer of funds between banks.

  • Online and Mobile Banking

    Gain access to your accounts, transfer funds and pay bills quickly and securely from the convenience of your home or mobile device with our online and mobile banking offerings.

  • Personal Banking Services

    At First Republic, we pride ourselves on providing a high level of client service as standard. For all the classic banking services we offer, your personal banker will work with you to determine the best solution to fit your needs.

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