Individual Retirement Account (IRA)

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An Individual Retirement Account (IRA) is a individual account that ...

References

2018

  • (Wikipedia, 2018) ⇒ https://en.wikipedia.org/wiki/individual_retirement_account Retrieved:2018-10-25.
    • An individual retirement account [1] (IRA) is a form of “individual retirement plan", [2] provided by many financial institutions, that provides tax advantages for retirement savings in the United States. An individual retirement account is a type of "individual retirement arrangement" [3] as described in IRS Publication 590, individual retirement arrangements (IRAs). The term IRA, used to describe both individual retirement accounts and the broader category of individual retirement arrangements, encompasses an individual retirement account; a trust or custodial account set up for the exclusive benefit of taxpayers or their beneficiaries; and an individual retirement annuity, [4] by which the taxpayers purchase an annuity contract or an endowment contract from a life insurance company.
  1. ↑ See subsection (a) of and the Treasury regulation at 26 C.F.R. sec. 1.408-2.
  2. ↑ See paragraph 37 of subsection (a) of .
  3. ↑ See 26 C.F.R. sec. 1.408-4.
  4. ↑ See, generally, subsection (b) of and 26 C.F.R. sec. 1.408-3.
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