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Individual Retirement Accounts

It's one of the easiest and most tax-friendly ways to save regularly and successfully for retirement. Whether your retirement is still a distant dream or close at hand, an Individual Retirement Account (IRA) allows you to save during your income-producing years to establish a more financially secure retirement. Choose from two convenient options below.

A special investment account to accumulate funds for retirement and save on taxes. May also be used for first time home purchase, deductible medical expenses, medical insurance premiums for eligible unemployed individuals, and qualified higher education expenses. Consult with your tax advisor.

  • A great way to start or sustain your retirement savings
  • Your earnings grow tax-deferred and, if eligible, the money you put in may be tax-deferred too (consult with your tax advisor)
  • Available to any individual under age 70½ with earned income
  • You can rollover your 401(k) or employer-sponsored qualified retirement plan to consolidate your retirement funds
  • Choose a fixed and/or variable rate CD
  • Deposits are FDIC insured up to a total of $250,000

Free Services

  • Free 24-Hour Easy Phone Banking
  • Quarterly and annual statements (monthly for deposit customers with a combined statement)
  • Automatic renewal

Designed for the individual concerned about being in a higher tax bracket at retirement, the Roth is a nondeductible IRA that offers tax-free distributions when withdrawn as part of a qualified distribution1. In addition to retirement, Roth IRA funds can also be used for a first-time home purchase.

  • Invest after-tax dollars today, and watch your investment grow tax-free
  • No IRS age limit for contributions or age requirement for distributions by participant
  • Get your principal contribution back at any time for any reason without taxes or IRS penalties
  • Choose a fixed and/or variable rate CD
  • Deposits are FDIC insured up to a total of $250,000
  • Don't pay taxes on any of the earnings, provided you withdraw the earnings as part of a qualified distribution1
1Qualified tax-free distributions are those taken after a five-year holding period for any of the following reasons: age 59½; permanent and total disability; death; or first-time home purchase.

Free Services

  • Free 24-Hour Easy Phone Banking
  • Quarterly and annual statements (monthly for deposit customers with a combined statement)
  • Automatic renewal
  • $10 minimum to open
  • Variable interest rate - we will mail the interest in a check to you or deposit the interest in an account that you designate
  • Unlimited deposits – in any amount and at any time
  • Automatic renewal
  • 18-month term
  • You may make withdrawals of interest that has been credited at any time prior to maturity
  • You will have ten calendar days after the maturity date to withdraw funds without penalty

Community Banking, since 1918.