COMPARE IRAs

 

Note: The Coronavirus Aid, Relief, and Economic Security Act or CARES Act, waives required minimum distributions for calendar year 2020. In some cases, the CARES Act also allows for certain coronavirus-related distributions in 2020 for those who meet eligibility requirements. Please contact your PNCI Financial Advisor to discuss your situation.
Read How the CARES Act Affects Individuals »

        

      

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Traditional IRA

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Roth IRA

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Minimum to Open

None

None

Account Fees & Minimums
Who Can Contribute

Anyone, at any age, with earned income or whose spouse has earned income

  • Anyone, at any age, with earned income or whose spouse has earned income
  • 2020 maximum income $139,000 (filing single) or $206,000 (filing joint)
Contribution Limits - 2020

Filing Single - Under 50: $6,000

Filing Joint - Under 50: $12,000 

Filing Single - Over 50: $7,000

Filing Joint - Over 50: $14,000

Filing Single - Under 50: $6,000

Filing Joint - Under 50: $12,000

Filing Single - Over 50: $7,000

Filing Joint - Over 50: $14,000

Tax Advantages
  • Contributions may be tax-deductible
  • Earnings remain invested tax-deferred
  • Taxes are due at the time of distribution/withdrawal
  • Contributions are made after-tax
  • Earnings remain invested tax-free
  • Qualified withdrawals are tax-free in retirement
Investment Products
  • Mutual funds
  • Stocks
  • Bonds
  • ETFs
  • Others
  • Mutual funds
  • Stocks
  • Bonds
  • ETFs
  • Others
Distributions
  • Earnings and tax-deductible contributions are taxed as ordinary income when withdrawn after age 59½
  • An annual Required Minimum Distribution must begin after age 72
  • Earnings may be withdrawn after age 59½ tax-free, provided the account has been open at least 5 years
  • Contributions can be withdrawn at any time without penalty
  • No annual lifetime Required Minimum Distribution

Traditional IRA

Learn More »

Minimum to Open

None

Account Fees & Minimums
Who Can Contribute

Anyone, at any age, with earned income or whose spouse has earned income

Contribution Limits - 2020

Filing Single - Under 50: $6,000

Filing Joint - Under 50: $12,000 

Filing Single - Over 50: $7,000

Filing Joint - Over 50: $14,000

Tax Advantages
  • Contributions may be tax-deductible
  • Earnings remain invested tax-deferred
  • Taxes are due at the time of distribution/withdrawal
Investment Products
  • Mutual funds
  • Stocks
  • Bonds
  • ETFs
  • Others
Distributions
  • Earnings and tax-deductible contributions are taxed as ordinary income when withdrawn after age 59½
  • An annual Required Minimum Distribution must begin after age 72

Roth IRA

Learn More »

Minimum to Open

None

Account Fees & Minimums
Who Can Contribute
  • Anyone, at any age, with earned income or whose spouse has earned income
  • 2020 maximum income $139,000 (filing single) or $206,000 (filing joint)
Contribution Limits - 2020

Filing Single - Under 50: $6,000

Filing Joint - Under 50: $12,000

Filing Single - Over 50: $7,000

Filing Joint - Over 50: $14,000

Tax Advantages
  • Contributions are made after-tax
  • Earnings remain invested tax-free
  • Qualified withdrawals are tax-free in retirement
Investment Products
  • Mutual funds
  • Stocks
  • Bonds
  • ETFs
  • Others
Distributions
  • Earnings may be withdrawn after age 59½ tax-free, provided the account has been open at least 5 years
  • Contributions can be withdrawn at any time without penalty
  • No annual lifetime Required Minimum Distribution

How PNC Investments Does Business

Learn how PNC Investments does business, including our qualifications, business practices, fee schedules, and options for how you can work with us by reviewing our Client Relationship Summary, Overview of Products and Services and more. View Details »