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Traditional IRA

$395

PER YEAR

$50 ESTABLISHMENT FEE

A Traditional Individual Retirement Account (IRA) is one of the most common types of retirement savings accounts; and a great way to increase the amount you are saving for retirement.

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 Only when the funds are withdrawn from the account as a distribution will there be a potential tax liability.

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.

TAX-DEFERRED
One of the most notable benefits to 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 That means that any gains are also tax-deferred until withdrawn from the account.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 can 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 70 1/2.

DISTRIBUTION PENALTIES
Keep in mind that distributions from your IRA can be subject to withholding penalties (including an additional 10% for withdrawals prior to age 59 1/2).

CATCH-UP CONTRIBUTIONS
There is a “catch-up” period of which you may contribute $1,000 more to your account. This is only permittable if the account owner is from 50 to 70.5 years old.

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Up to $10,000 can be withdrawn from a Traditional IRA penalty-free, if the money is used to acquire a principal residence for a first-time home buyer.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 www.irs.gov for a complete breakdown of the rules and regulations concerning Traditional IRAs. Certain restrictions apply regarding prohibited transactions.

2017 2018
For Tax Year 2017
Up to Age 50 $5,500 $5,500
Catch-Up Contribution
(Over Age 50)
$1,000 $1,000
Total Contribution Amount
(If Over Age 50)
$6,500 $6,500

TRADITIONAL IRA MAGI LIMITS

2017 2018
For Tax Year 2017
Single Active Participant $61,000 – $71,000 $62,000 – $72,000
Married Active Participant
(Filing Jointly)
$98,000 – $118,000 $99,000 – $119,000
Married Active Participant
(Filing Separately)
$0 – $10,000 $0 – $10,000
Spouse of Active Participant $184,000 – $194,000 $186,000 – $196,000

We do not offer investment, tax, financial or legal advice to clients. Individuals who believe they need advice should consult with qualified professional(s) licensed in that area. This section of our website is devoted to providing clients and potential clients with educational information. It is in no way intended as tax advice.

Frequently Asked Questions

Here are a few of the most frequently asked questions asked when opening a self-directed account.

How do your fees differ from other custodians who handle traditional & alternative assets?

Provident Trust Group offers a flat-rate annual fee. This differs from many other alternative asset custodians who may increase your annual fee based on an increase in the number of assets you select, value of your assets, or even the purchase of a different asset class.

Most custodians of traditional assets collect fees and/or commissions based off of the amount of trades or recommendations of investment choices.  For our full fee schedule, click here.

Can Provident Trust Group provide tax or legal advice regarding your investment?

No. If you should need tax or legal advice regarding your investment, you may engage a specialized tax law firm to provide the needed advice. Attorney-client privilege would then exist between you and the firm of your choice.

What types of investments are prohibited with retirement accounts?

The IRS does not state which investments are permissible in a qualified account or retirement plan, but they do state specific asset classes that are prohibited.  The IRS currently prohibits IRAs to invest into Life Insurance, Collectibles and S-Corps.  Some examples of collectibles include:

  • Artwork,
  • Rugs,
  • Antiques,
  • Metals – with exceptions for certain kinds of bullion,
  • Gems,
  • Stamps,
  • Coins – (but there are exceptions for certain coins),
  • Alcoholic beverages, and
  • Certain other tangible personal property.

For more information, click here for the IRS Website.

Can my account invest with other partners, including myself?

Yes, your IRA can invest with other partners and yourself individually. However, it is important to consult legal counsel in these situations to observe formalities and rules that may be associated with that investment.

Not Sure What Plan Is Right For You?

Take a minute or two and compare similar plans that may be the right fit for your needs.

The Provident Advantage

Our approach focuses on delivering clear and concise information so you can make well-informed decisions regarding your investments. Our clients rely on our abilities to ensure every administrative and reporting detail is covered and completed on time.

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IRS Required Reporting

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Record Keeping

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IRA & Qualified Plan Administration

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Transfer Processing

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Alternative Asset Custody

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Rollover Assistance

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Self-Directed Education

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Contribution Processing

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Distribution Processing

Your investment freedom is a click away

OPEN AN ACCOUNT

Our completely electronic application process will have you set up in minutes.

FUND YOUR ACCOUNT

Transfer or Rollover old or non-performing retirement assets.

START INVESTING

Enjoy investment freedom with a truly self-directed retirement account.

Our simple online process makes setup a breeze so you can focus on what matters most – your retirement.

Our 100% web-based process provides easier form completion and clearer view of holdings and transactions that will assist customers in opening new accounts securely and quickly without any physical paperwork. Customers can also complete fund transfers from other custodians, electronically initiate investments, as well as manage multiple accounts with a click of a button.

Do you Have Questions? Let us know!

Existing Clients
(888) 855-9856

Future Clients
(888) 662-0869

WHO WE ARE

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.

CONTACT US

OUR ADDRESS

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

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FAX

(702) 253-7565

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HOURS OF OPERATION

Monday - Friday
6AM - 4PM (PST)
 

EMAIL

info@trustprovident.com

Provident Trust Group, LLC is a BBB Accredited Management Consultant in Las Vegas, NV