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South Georgia Banking Company

Roth Individual Retirement Account

Required to Open Account: $100.00
Unqualified Withdrawal Service Charge:   $10.00
Transfer/Rollover to Another Institution $20.00

Variable interest rate. Roth is a non-deductible account that features tax-free withdrawals for certain distribution reasons after a five-year holding period and at age 59½. Roth IRAs are not subject to age 70½ required minimum distributions. Unqualified withdrawals are taxable and subject to service charge (see above). Interest is paid annually.

 

 


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