What are the requirements to open a Resident Alien Traditional IRA Account?
A tax-deferred retirement account for an individual that permits individuals to set aside money each year, with earnings tax-deferred until withdrawals begin at age 59 1/2 or later (or earlier, with a 10% penalty). The exact amount depends on the year and your age…more > Appropriate for: Individuals under 70 ½ with earned income and non working spouses looking to open a retirement account. Deductibility of annual IRA contributions phased out for individuals covered by retirement plans with adjusted gross income of ($53,000-$62,999) for 2008. Individuals not covered by retirement plans have full deductibility regardless of annual gross income. Requirements: • IRA Signature card • IRA Simplifier • The date-of-birth, tax identification number and address for any beneficiaries • Resident Aliens also need to submit a photocopy of a government issued id (passport, driver license, green card, or state ID). var singleFaqId=”815″; Found in FAQ category: ACCOUNTS, …
