It’s never too early to think about your future.
At PenFed, we want our members to invest in themselves, and build a retirement plan that fits the life they imagine. Our extensive IRA portfolio allows you to customize how you save for retirement.
Choose from our IRA portfolio, then download the PDF application
For members that reside in Puerto Rico, please contact PenFed Wealth Management at 1-800-732-8022 to discuss the IRS’ retirement plan qualifications and their applicability to IRAs opened in Puerto Rico.
Annual Percentage Yield (APY) is accurate as of and is subject to change at any time. Fees may reduce earnings. Rates could change after account opening.
*Refer to a qualified tax advisor
IRA Premier
A $10,000 account balance must be maintained to receive this higher rate. Account balances below $10,000 earn a lower return. Call for details.
Rates could change after account opening.
Roth IRA
Rates could change after account opening.
To take a qualified distribution, and avoid any tax liabilities, you must wait until after the five-taxable-year period beginning with the taxable year in which you first contributed to a Roth IRA.
IRA Certificates
Rates are subject to change monthly and are fixed for the term of the certificate. Certificates dividends compound daily. The minimum balance to open a certificate is $1,000.
Early Redemption Penalties
Penalties are imposed for early redemption of certificates. You must provide your request in writing.
If the certificate is redeemed within the first year, all dividends will be forfeited.
If after the first year, but prior to the maturity date, the early withdrawal penalty will equal 30% of what would have been earned if the certificate had been held to maturity, not to exceed total dividends earned.
Exceptions. The penalties described above will not be applied if the withdrawal is made: (i) Subsequent to the death of any holder of the Certificate. (ii) As a result of the voluntary or involuntary liquidation of the credit union. (iii) If the owner is permanently disabled, as defined in the Internal Revenue Code Section 72(m). (iv) If the owner has reached age 59½ and takes a partial withdrawal in the form of a distribution to themselves. (v) If the owner has reached the applicable RMD age and take a withdrawal of any amount in the form of a distribution to themselves. Note: a trustee-to-trustee direct transfer is not considered a distribution to yourself therefore regular certificate penalties would apply. Roth IRAs do not qualify under RMD exceptions.
1. Download and Print Forms (PDF)
2. Complete Your Application
3. Return Application to PenFed
Becoming a member is simple
(and no military affiliation is required).
Join PenFed Membership Benefits
1-800-278-2212 or 1-800-557-7328
Attention: IRA Department
PO Box 247009
Omaha, NE 68124
1-800-247-5626
Are you going to meet your retirement goals? Connect with an investment representative at PenFed Wealth Management about your 401(k) and IRAs, investment planning, college funding, and more.
Visit PenFed Wealth
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