The Express IRA from H&R Block offer smart, simple ways to prepare for the things you want most in life. You'll earn competitive interest rates while you save through secure plans. Every H&R Block Express account is FDIC insured (up to $100,000), so your money is always secure. By putting away just a little at a time in an Express IRA, you can earn more on your money, build your finances, and reach your goals.

Express IRA

An Express IRA can help you meet longer term goals, like a first home, education or retirement. You can also choose either a Roth or traditional IRA, based on your unique situation. With an Express IRA, you can:

• Earn a competitive interest rate
• Start saving with as little as $300, or even less if you choose to start a monthly savings program of at least $25
• The Express IRA can also be used to roll-over assets held in a former 401(k) or other employer sponsored plan. Read the Rollover Instructions for more details.

Express IRA - Traditional

If you pay taxes, traditional IRAs are tax-smart because: 1) Your tax-deductible* IRA contributions reduce your overall income tax each year, and 2) You save by deferring taxes on your contributions and earnings (from compound interest) until retirement, when you'll likely be in a lower tax bracket.

Traditional IRAs are generally used to build retirement savings you won't withdraw until age 59½ or later, but you can withdraw funds early without penalty for special purposes:

• First home purchase (withdraw up to $10,000)
• Qualified education expenses
• Qualified medical expenses
• Any purpose beginning at age 59½

Express IRA - Roth

With a Roth IRA, your contributions are not tax deductible in the current year, but the benefit comes when you withdraw your contributions and their earnings under qualified circumstances. At that point, they are completely tax free. (Roth IRAs may also help make you eligible for the Saver's Credit in some instances depending on your income.)

• Earn tax-free interest
• Withdraw amounts equal to or less than your contributions, at any time, for any reason
• After five years, make tax- and penalty-free withdrawals if one of the following applies**
  • You are age 59½ or older
  • You are disabled
  • You use the funds toward a first home purchase (withdraw up to $10,000)
• Withdraw funds to cover certain medical or education expenses, penalty-free, at any time