Education IRA
- $2000 maximum annual contribution per child under age 18
- Costs of kindergarten through 12th grade, college or trade school are qualified expenses
- Withdrawals are tax free when spent for qualified expenses
- Funds can be transferred from one child's account to another child in the family
- Contributors income doesn't have to come from compensation
- Contributions are not tax-deductible
Current Rates
Education IRA
| Minimum Balance | Dividend Posting | Annual Percentage Yield | Dividend Rate |
|---|---|---|---|
| $50 | Monthly | 0.50% | 0.50% |
