Regions IRA Products

Depositor's IRAs are designed for investors who need to build their IRA funds through contributions made at maturity and for those who want the assurance of a known return that a Fixed Rate Time Deposit¹ (similar to a Certificate of Deposit) offers.

To grow IRA savings by making frequent deposits we offer an 18-month variable rate² for a traditional IRA, with the account "open" to receive additional deposits with a term of 18 months. The initial deposit amount is only $250, and can be set up with your Regions checking or savings account for regular automatic deposits of $50 or more.

Money Market IRAs¹ have no term, can be opened with an initial deposit of $50 and will accept deposits of $25 or more at any time. This is an ideal account for those who need flexibility managing rollover deposits or want to aggregate totals into a single account.

Anyone may fund a Coverdell Education Savings Account for a child. While there is no requirement to be a relative of the child, the person funding the account must meet certain income limits. Corporations, trusts and other non-individual entities may also contribute (not subject to income limits).

For single filers, eligibility phases out between $95,000 and $110,000.

For joint filers³, eligibility phases out between $190,000 and $220,000.

$2,000 is the annual limit for contributions. And if more than one account is established for the child,
contributions to all of the accounts may not exceed a total of $2,000 a year.

As long as a child is under age 18, annual contributions may be made. Contributions may be made for
individuals over 18 who need additional time to complete their education due to a physical, mental or emotional condition. Also, contributions may be made as late as April 15 of the following year.

Tax-Free Withdrawals -Contributions to a Coverdell Education Savings Account are not tax-deductible. They are made with after-tax dollars for a child. But any growth of the account is tax-deferred. And when the money is withdrawn and used for tuition, room, board, books, other college supplies, or qualified elementary and secondary school expenses, it is tax-free.