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Tax-Free Roth IRA

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A Roth IRA is similar to a Traditional IRA in its $5,500 2015 contribution limits and tax-deferral feature. But while qualified withdrawals are federal income tax free, the funds you contribute to the IRA are not tax-deductible.

For conservative investors, First Tennessee Bank offers an insured savings IRA option that is FDIC insured. Stocks, mutual funds, and bonds are not FDIC insured and are available through FTB Advisors, Inc.

Product Features

  • No federal income tax on qualifying withdrawals
  • $5,500 2013 annual contribution limit; $6,500 if you are 50 or over
  • Withdrawals of original contributions are allowed at any time with no taxes or penalties**

Product Benefits

  • Choose a savings IRA or brokerage IRA option
  • Ideal for long-range planning goals like college and retirement
  • Withdrawals are allowed for certain home purchases, college tuition, and major medical expenses without penalty by the IRS


**Early withdrawal penalties on earnings prior to age 59½ are 10%, with possible state penalties as well.

Insured Savings IRAs:

  • FDIC-insured for up to $250,000
  • Based on variable rate savings or CDs
  • Will not lose principal value
  • No account opening or maintenance fees
  • Early withdrawal penalties may apply to CDs redeemed before maturity date
  • Minimum opening deposit is $100

Brokerage IRAs:

  • Returns fluctuate based on investments
  • Self-directed or professionally-directed
  • Opportunities for higher returns, or for principal to lose value
  • More risk, not FDIC-insured
  • Minimum investment is $2,000

The Securities and Exchange Commission requires broker-dealers to publish certain order related data. Click here to view this data as required by Rule 606.

Statement on Business Continuity


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Insurance Products, Investments & Annuities: Not A Deposit | Not Guaranteed By The Bank Or Its Affiliates | Not FDIC Insured | Not Insured By Any Federal Government Agency | May Go Down In Value
Insurance Products and Annuities:  May be purchased from any agent or company, and the customer’s choice will not affect current or future credit decisions.

FTB Advisors is the trade name for wealth management products and services provided by First Tennessee Bank National Association (“FTB”) and its affiliates. Financial planning and trust services provided by FTB. Investment management services, investments and annuities available through FTB Advisors, Inc., member FINRA, SIPC, and a subsidiary of FTB. Arkansas License # 416584. Insurance products available through FTB Advisors Insurance Services, Inc. (”FTBIS”), a subsidiary of FTB. Arkansas License # 247414. In some states, insurance products and annuities are provided by First Horizon Insurance Services, Inc. (“FHIS”), a Tennessee corporation, and a subsidiary of FTB. The principal place of business of FHIS is 165 Madison Ave., Memphis, TN 38103. California License # OD12174. FTBIS, FTB Advisors, Inc., and FHIS may transact insurance business or offer annuities only in states where they are licensed or where they are exempted or excluded from state insurance licensing requirements. FTB Advisors does not offer tax or legal advice. You should consult your personal tax and/or legal advisor concerning your individual situation.