Are you an individual looking for tax-deferred growth with tax-free
withdrawals when you retire? If you answered YES, then FNCB has the
right account for you! Sign up today and begin thinking about your
Qualified withdrawals of earnings are tax-free and IRS penalty free
after a five-year holding period.
Withdrawals of Roth contributions are tax-free and IRS penalty free at
There is no mandatory age 70½ minimum distribution requirement.
Your beneficiaries can receive tax-free distributions.
You can set up and make contributions to a Roth IRA for 2013 if you received taxable compensation during the year and your modified adjusted gross income (MAGI) meets the following limitations:
Full contribution if MAGI is less than $112,000 (single) or $178,000 (joint)
Partial contribution if MAGI is less than $127,000 (single) or $188,000 (joint)
To learn more about eligibility requirements, read IRS Publication 590 or consult your tax advisor.
FNCB Roth IRA funds are invested in Certificates of Deposit.
Once a five-year holding period is met, any earnings withdrawn for a
qualified distribution are tax-free and IRS penalty free. Qualified
Distributions made on or after the date on which the customer attains
Distributions made to a beneficiary upon account holder's death,
Distributions attributable to the owner being permanently disabled and
Qualified first time homebuyer distributions up to $10,000 (lifetime