Individual Retirement Accounts

• IRA Features
• IRA Product Options
• If you're going to begin taking IRA distributions
• If you have more than one IRA

IRA Features

Traditional IRA

• You can deduct your contributions if you meet the eligibility requirements.
• You can contribute until age 70½ as long as you have earned income.
• Combined Traditional and Roth IRA annual contribution limits: $5,000 tax year 2010, $6,000 tax year 2010 for those age 50 or older.
• Tax-deductible contributions and earnings are taxed as ordinary income when withdrawn. After-tax contributions are withdrawn tax-free. Consult your tax advisor.
• Penalties: 10% IRS early withdrawal penalty if withdrawn before age 59½.
• Withdrawal: Must begin at age 70½.

Roth IRA

• Not tax-deductible. Contributions are made in after-tax dollars.
• You can contribute at any age as long as you have earned income and meet the income limitations.
• Combined Traditional and Roth IRA annual contribution limits: $5,000 tax year 2010, $6,000 tax year 2010 for those age 50 or older Contribution eligibility varies.
• Contributions (all are made after tax) and earnings are income tax-free if the account is held for 5 years and are withdrawn for a qualified reason. Withdrawal of earnings for non-qualified reasons may be taxed as ordinary income and subject to an early withdrawal penalty. Consult your tax advisor.
• Penalties: Withdrawal of earnings may be subject to a 10% IRS early withdrawal penalty if withdrawn before age 59½. Contributions may be withdrawn any time.
• Withdrawal: No required withdrawals until after death of owner.

IRA Product Options

IRA CD

Trust Services

Transfer your IRA to BankWest’s Trust Department for full-service portfolio and distribution management. We’ll look at your retirement assets in the context of your complete estate plan, and help you deal with tax and inheritance issues.

Investment products are not deposits, not FDIC insured, not insured by any federal
government agency, not guaranteed by the bank, and may go down in value.

Investment Services

Balance your risk and return with an investment account from Woodbury Financial Services. Choose from stocks, bonds, mutual funds and annuities to reach your investment goals!

Securities and investment advisory services are offered through Woodbury Financial Service, Inc. Member FINRA, SIPC and Registered Investment Advisor. BankWest and Woodbury Financial Services, Inc. are not affiliated entities. Securities offered only where licensed to do business. Currently licensed in SD, ND, MN, AZ, CA, CO, DC, FL, GA, ID, IL, IN, IA, KS, MT, NE, NV, NJ, NM, TX, VA, WA, WY.

Neither Woodbury Financial Services, Inc. nor its representatives offer tax or legal advice. For assistance with these matters, please consult your tax or legal advisor.

Investment products are not deposits, not FDIC insured, not insured by any federal government agency, not guaranteed by the bank, and may go down in value.

If you're going to begin taking distributions...

If you have more than one IRA...