Tax-advantaged growthContributions and earnings from a traditional IRA grow tax-deferred until withdrawn at which time they are taxed at your current rate.(If contributions are not tax-deductible, then they can be withdrawn tax-free under a pro-rata rule.) If withdrawals occur before you are age 59 ½ then you also may be subject to a 10% additional tax.
Contributions may be fully tax-deductible if any of the following apply:
Traditional IRA Tax Deduction GuidelinesTax Deductibility of Traditional IRA Contributions
Tax deductibility of your Traditional IRA contribution is based on several factors:
EligibilityAnyone under age 70½ who has earned income equal to or greater than their IRA contribution amount.
Veritas Federal Credit Union
1 Nissan Way
Franklin, TN 37067
P.O. Box 681059
Franklin, TN 37068
Main Phone: (615) 786-0452
Customer Service: (855) 663-8328
Am I Eligible?
- Share Accounts
- Free Checking
- ATM/Debit Cards
- Audio Response
- Stop Pay Requests
- Wire Transfers
- Direct Deposit
- Convenience Services
Your Savings Federally insured to at least $250,000 and backed
by the full faith and credit of the United States Government.
National Credit Union Administration, a U.S. Govt. Agency.
We do business in accordance with the Federal Fair
Housing Law and the Equal Credit Opportunity Act.