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Save time accessing your account information by registering for online access here. It’s fast, secure, and convenient!
Give the gift of investing and get rewarded! Spread the word to friends and family! When they open a Forge Trust account, you’ll both be eligible for a choice of a $100 Amazon or VISA gift card. Refer now.
With a Traditional IRA, you make contributions with money you may be able to deduct on your tax return. Any investment gains grow tax-deferred until you withdraw them in retirement.
Plan Benefits:
Is this retirement account right for you?
Contributions are tax deductible
Penalty-free withdrawals after age 59 1/2
No earned income limits on participation
Contributions are protected from creditors
Can be paired with other retirement plans
Eligibility:
For 2020 or later, available with no age limit to individuals.
Must have earned income
2022 & 2023 Contributions:
Contributions may be tax deductible with a maximum contribution of $6,000 ($7,000 if age 50 or older) for 2022 and a maximum contribution of $6,500 ($7,500 if age 50 or older) for 2023.
For 2020 or later, there is no age limit on making regular contributions
Investment Returns or Gains:
Investment returns or gains can grow tax deferred
Funding Your Account:
Contribute earned income
Rollover funds from a 401(k)
Transfer an IRA
Withdrawals:
After age 59 1/2 withdrawals are penalty-free, but taxed as current income
10% early withdrawal penalty may apply for withdrawals taken prior to age 59½
Hardship distributions for immediate and heavy financial need. Money is taxed to the participant and not paid back to the borrower’s account.
Plan Benefits:
Contributions are tax deductible
Penalty-free withdrawals after age 59 1/2
No earned income limits on participation
Contributions are protected from creditors
Can be paired with other retirement plans
Is this retirement account right for you?
Eligibility:
For 2020 or later, available with no age limit to individuals.
Must have earned income
2022 & 2023 Contributions:
Contributions may be tax deductible with a maximum contribution of $6,000 ($7,000 if age 50 or older) for 2022 and a maximum contribution of $6,500 ($7,500 if age 50 or older) for 2023.
For 2020 or later, there is no age limit on making regular contributions
Investment Returns or Gains:
Investment returns or gains can grow tax deferred
Funding Your Account:
Contribute earned income
Rollover funds from a 401(k)
Transfer an IRA
Withdrawals:
After age 59 1/2 withdrawals are penalty-free, but taxed as current income
10% early withdrawal penalty may apply for withdrawals taken prior to age 59½
