Roth IRA

Tax considerations are an essential part of good retirement planning. Your Roth IRA contributions are made with after-tax income, so you’ll owe no taxes when you withdraw them under current laws. In addition, you won’t be taxed on any earnings generated on the assets in your Roth IRA, provided you meet certain conditions.

Many investors choose to invest in a Roth IRA as part of a diversified tax strategy. A SunTrust Investment Services advisor can explain the benefits of a Roth IRA account and help you determine the most tax-efficient route for you.

SunTrust offers a range of IRA certificates of deposit and IRA money market accounts, and a broad range of investment and retirement solutions from some of the top annuity1 providers the industry has to offer. All of these solutions can be used as part of the mix of investments in your Roth IRA.

To talk with a SunTrust retirement expert call 866.732.1687.

Why choose a Roth IRA?

  • Under current laws, tax-free investment earnings and tax-free income distributions start at age 59½ as long as you have had your Roth IRA account for at least five years.
  • Contributions can continue past age 70½ if you're still earning income.
  • Contributions can be withdrawn at any time with no tax penalties.

Roth IRA eligibility requirements

  • You must have earned income (as opposed to investment income only).
  • You can contribute to a Roth IRA even if you participate in an employer-sponsored plan.
  • To make a full contribution, your 2013 modified adjusted gross income must be less than $112,000 if you’re a single taxpayer, or less than $178,000 if you’re married and filing jointly.

Roth IRA contribution limits

The annual Roth IRA limits on contributions for the 2012 tax year are:

  • $5,500 for single individuals up to age 50
  • $6,500 for individuals age 50 and over
  • $11,000 to $13,000 for married couples filing jointly ($5,500 maximum for each joint filer up to age 50, $6,500 for each at age 50 and older)

You can contribute to a Traditional IRA and a Roth IRA in the same year, but your total contribution is limited to the amounts above.

Roth IRA conversions

  • As of 2010, income limits for converting a Traditional IRA to a Roth IRA have been eliminated.
  • You must pay taxes on the amount being converted into a Roth IRA.
  • A Roth IRA conversion can have other important tax consequences and should be made with the help of a qualified financial advisor.
Disclaimers

1Annuities are offered by SunTrust Investment Services, Inc.

NOTE: Eligibility and contribution amount information is valid as of January 1, 2013. Neither SunTrust, its officers, nor its employees give tax or legal advice. Please consult your tax or legal advisor concerning your specific situation.

Contact Us

To reach a SunTrust advisor:

Search

Please enter address to search

Securities, Investment and Insurance Products and Services:

  • Are Not FDIC or any other Government Agency Insured
  • Are Not Bank Guaranteed
  • May Lose Value

© 2014 SunTrust Banks, Inc.

Equal Housing SunTrust Bank is an Equal Housing Lender. Member FDIC.

Equal Housing Equal Housing Lender. SunTrust Mortgage, Inc.

SunTrust, SunTrust Mortgage, SunTrust at Work, SunTrust Mobile Banking, SunTrust PortfolioView, SunTrust Robinson Humphrey, SunTrust Solid Theft Protection, Ridgeworth Funds, RidgeWorth Capital Management, Wealth Select, AMC Fund Select, AMC Pinnacle, AMC Premier, Access 3, Bank Your Way Snapshot, Signature Advantage Brokerage, Custom Choice and Sure Pay are federally registered service marks of SunTrust Banks, Inc. All other trademarks are the property of their respective owners.

Services provided by the following affiliates of SunTrust Banks, Inc.: Banking and trust products, including investment advisory products and services, are provided by SunTrust Bank, member FDIC; securities, insurance (including annuities), and other investment products and services are provided by SunTrust Investment Services, Inc., an SEC registered broker/dealer and a member of the FINRA and SIPC, and a licensed insurance agency; investment advisory products and services are offered by SunTrust Investment Services, Inc. and Ridgeworth Capital Management, Inc.; mortgage products and services are provided by SunTrust Mortgage, Inc.

SunTrust Mortgage, Inc. - NMLS #2915, 901 Semmes Avenue, Richmond, VA 23224, toll free 1-800-634-7928 CA: licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act, IL: Illinois Residential Mortgage Licensee, MA: Mortgage Lender license #-ML-2915, NH: licensed by the New Hampshire Banking Department, NJ: Mortgage Banker License - New Jersey Department of Banking and Insurance, and RI: Rhode Island Licensed Lender. © 2014 SunTrust Banks, Inc. SunTrust and SunTrust Mortgage are federally registered service marks of SunTrust Banks, Inc. How can we help you shine? is a service mark of SunTrust Banks, Inc.

"SunTrust Advisors" may be officers and/or associated persons of the following affiliates of SunTrust Banks, Inc.: SunTrust Bank, our commercial bank, which provides banking, trust and asset management services; SunTrust Investment Services, Inc., an SEC registered investment adviser and broker-dealer, which is a member of FINRA and SIPC, and a licensed insurance agency, and which provides securities, annuities and life insurance products, and other investment services.

SunTrust Private Wealth Management, International Wealth Management, Business Owner Specialty Group, Sports and Entertainment Group, and Legal and Medical Specialty Groups are marketing names used by SunTrust Banks, Inc., SunTrust Investment Services, Inc., and Ridgeworth Capital Management, Inc.

SunTrust Robinson Humphrey is the trade name for the corporate and investment banking services of SunTrust Banks, Inc. and its subsidiaries, including SunTrust Robinson Humphrey, Inc., member FINRA and SIPC.