Planning for retirement and preparing for educational expenses are made easier with Coast Line IRA products. Earn higher dividend rates by investing in IRA Certificates. Some IRA products can provide you with an excellent tax shelter on your contributions and earned dividends.

We offer four different individual retirement accounts:

TRADITIONAL IRA

• Penalty-free withdrawals are allowed for first-time home buyers and qualified higher educational expenses.
• Contributions and earned dividends are tax-deferred.
• Many tax payers will be eligible for tax deductible contributions.

ROTH IRA

• Penalty-free withdrawals are allowed for first-time home buyers and qualified higher educational expenses. 
• Contributions are not tax deductible.
• Tax-free and penalty-free earned dividends are available for withdrawal as long as the account has been open for at least five (5) years and you are over 59 1/2 years old, or are disabled, or buying your first home or are deceased.

COVERDELL (EDUCATION) IRA

• Allows contributions up to the age of 18 years.
• Money may be withdrawn tax-free if used to pay for higher educational expenses before reaching age 30.
• Tax-free withdrawals for qualified higher educational expenses.

SEP IRA (Simplified Employee Pension Plan)

•  Make contributions with higher limits than with an IRA.
•  Get tax-deferred earnings until age 70½ when all withdrawals are subject to taxes.
•  Make contributions that are deductible.
•  Lower your income tax liability in the current year.

For more information or to discuss your IRA options, please contact us over the phone at (207) 799-7245, or visit our branch.