Deposit slip and cash.

IRA

Individual Retirement Accounts

Bank of Dixon County offers both Roth and Traditional IRA's. The main differences between these types of accounts are the tax benefits associated with them. See the chart below to learn about the differences. Consult a tax professional if you have questions about what type of account may best suit your needs.
 
For questions specific to your Roth or Traditional IRA at Bank of Dixon County, contact Brian Lentz.
ROTH IRA TRADITIONAL IRA
After-tax contributions Pre-tax contributions
Contributions grow tax-free Contributions are tax-deferred
Max contribution for 2022 is $6,000 or $7,000 if you are over age 50

Max contribution for 2022 is $6,000 or $7,000 if you are over age 50
No contribution age restriction No contribution age restriction
Withdrawals are penalty- and tax-free after 5 years after age 59 ½ Withdrawals are penalty free but taxed at current income after age 59 ½

No mandatory distributions

 Mandatory distributions after age 72

For more information on IRA's, visit the IRS website linked here.