Individual Retirement Accounts
Frequently Asked Questions

Question categories:

• General
• Opening an IRA
• Contributions and Distributions

General

• What type of IRAs does Alaska USA offer?
• What is the difference between a Traditional and a Roth IRA?
• How do I know which type is the best for me?
• Can I convert my Traditional IRA to a Roth IRA?
• Are IRAs insured?
• What is the age requirement to establish an IRA?
• Who is eligible to establish an IRA?
• What investment options are available for IRAs?
• Can I borrow from an IRA?

Opening an IRA

• How do I open an IRA?
• Can an IRA be established on a business or trust account?
• What information will I need to provide to add a beneficiary to my IRA?
• How do I change or add to my current beneficiaries?

Contributions and Distributions

• How much can I contribute?
• Am I eligible to contribute to an IRA?
• What are the income limits for contributing to an IRA?
• Is my contribution tax deductible?
• What type of funds can be contributed to an IRA?
• Can I transfer my employer retirement plan to an IRA?
• Can I transfer an IRA at another institution to Alaska USA?
• Can I convert my Traditional IRA to a Roth IRA?
• When can withdrawals be made from an IRA?
• What are the tax penalties for early withdrawals?
• Can withdrawals be made over the phone?
• What is a Required Minimum Distribution (RMD)?
• How do I calculate my Required Minimum Distribution (RMD)?
• Is federal tax withholding required and how much do I have to specify?
• What tax form is used to report contributions?
• What tax form is used to report distributions?
• When are tax forms sent out?