Traditional IRA

A Traditional Individual Retirement Account (IRA) is one of the most common types of retirement savings accounts.

Better yet, contributions made into the account each year may provide a tax-deduction equivalent to the same amount contributed (subject to government guidelines and income limitations). At the time of retirement, most individuals find themselves in a much lower tax bracket than they were while they were employed. This means that they pay a lower tax rate on those funds than they would have during the years they were placed in the account.

Income within a Traditional IRA account grows tax-deferred. Only when the funds are withdrawn from the account as a distribution will there be a potential tax liability.

Key Features

  • Tax-Deferred
    One of the most notable benefits of a Traditional IRA is the fact that funds are tax-deferred while in the account. That means that any gains are also tax-deferred until withdrawn from the account.
  • Tax Deductible
    Contributions to a Traditional IRA may be tax deductible, provided you meet certain requirements.
  • Required Distributions
    Another important factor when considering Traditional IRAs is the Required Minimum Distribution requirement when you turn age 72.
  • Distribution Penalties
    Keep in mind that distributions from your IRA can be subject to a 10% early distribution penalty tax if you are under age 59 1/2, unless a penalty tax exception applies.
  • Catch-Up Contributions 
    There is a “catch-up” period of which you may contribute $1,000 more to your account. This is only permissible if the account owner is age 50 or older.
  • First Time Home Buyer
    Up to $10,000 can be withdrawn from a Traditional IRA penalty-free, if the money is used to acquire a principal residence for a first-time home buyer. The owner of the home must be the Traditional IRA’s owner, their spouse, or their lineal ancestors and descendants.  The individual cannot have owned a home in the previous 24 months.

NOTE: Please visit for a complete breakdown of the rules and regulations concerning Traditional IRAs. Certain restrictions apply regarding prohibited transactions.

It’s easy to get started investing in a Traditional IRA. Open an Account in just a few minutes on our online portal. 

Frequently Asked Questions

about Traditional IRAs

What are the fees involved with opening a Traditional IRA?

Most custodians of traditional assets collect fees and/or commissions based off of the amount of trades or recommendations of investment choices. Provident Trust Group offers a flat-rate annual fee.

View our fee schedule for full, transparent breakdown of our fees.

What are the contribution (COLA) limits?

Our COLA limits document provides a comprehensive overview of how much you can contribute to your Traditional IRA.

Do you Have Questions? Let us know!

Existing Clients
(888) 855-9856
Future Clients
(888) 662-0869


With more than 34,000 clients in all 50 states, our elite team of professionals is the premier choice. We offer highly personalized service tailored to your needs, transforming your financial future.

Subscribe to Our News

 Stay up to date with our Newsletter.



8880 W. Sunset Rd.,
Suite 250
Las Vegas, NV 89148


(702) 253-7565


Monday - Friday
6AM - 4PM (PST)