A secure, flexible way to fund your future
- Readily withdraw from your share account and invest in a PenFed IRA certificate
- Federally insured to a total of $250,000 across all PenFed IRA products, backed by the NCUA
IRA SHARE
Invest now for tomorrow’s dreams
Maximize your membership with a PenFed IRA Savings Account.
Get started today with $25 or more
Enjoy flexible reinvestment
PenFed IRA Savings Account benefits
To our Puerto Rico members
Puerto Rico has its own separate and independent income tax system, commonly referred to as Hacienda (the Puerto Rico Tax Authority). PenFed, which operates under the US tax code, cannot open IRAs with income that is qualified with Hacienda.
Members who reside in Puerto Rico and want to open and contribute to a PenFed IRA must verify with a certified accountant or professional tax advisor that their earned income is eligible to be used for a PenFed IRA product.
If you have an IRA account currently in place that is qualified under Hacienda, and the plan has a minimum of $25,000 balance, you may speak with PenFed Wealth Management at 1-800-732-8022 to assist you in rolling over your funds to a Hacienda approved plan.
Open your account now
- Download form M-36.
- Complete your application.
- Return your form to PenFed or contact us.
Upload the document:
Upload your document using our secure document upload.
Mail the form to:
Attention: IRA Department
PO Box 247009
Omaha, NE 68124
Fax the form to:
1-800-278-2212 or 1-800-557-7328
Call member services at:
1-800-247-5626
Not a member yet? Joining PenFed is simple.
Disclosures
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.