The mechanics are simple: you invest money in a First Roth IRA today, and taxes on its earnings are deferred until you withdraw the money in the future.

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Additional income besides Social Security or other retirement plans1


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Compounded interest is credited according to the term of the account


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Interest rate guaranteed for the term


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Your contributions (not earnings) can be withdrawn tax-free


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No minimum distribution required at or after the age 70 ½


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Earnings are federal and, in most cases, state tax-freeif withdrawn at or after age 59 ½ and your Roth IRA account has been open five years or more3


Ready to apply?

Make sure you have the following documents readily available.


In addition to your Social Security card, you will also need one valid photo ID issued by the United States Government, such as:

  • Driver’s License

  • Passport

  • Military ID

  • Permanent Resident ID

  • Government ID

With these documents in hand, visit one of our branches.


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With a First Roth IRA, you defer taxes on the earnings for the future and with a Traditional IRA your contributions can be tax deductible.


With our First Roth IRA, you can receive your contributions tax free once you have reached age 60. Not earnings.


No, with the First Roth IRA there is no minimum distribution. You can use it only if you need it. If you withdraw before the age of 59 ½ there are penalties.


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Member FDIC. Only for residents of Florida.1 FirstBank offers different IRA accounts and investment alternatives. You have the right to obtain detailed information to determine which is the most convenient IRA account for you. Refer to the product disclosures that are provided at the time of opening the account. 2 Consult with your financial advisor or tax consultant.3 There is a single, 5-year holding period when determining whether earnings can be withdrawn federally tax-free as part of a qualified distribution from your Roth IRA. This period begins January 1 of the year of the first contribution to any Roth IRA account. Annual contributions to the First Roth IRA are not deductible from your income on your tax return for any specific year. Interest rate and annual percentage yield are based on maintaining the deposited amount in the account until the maturity date. Withdrawals made prior to the maturity date are subject to penalties.


FirstBank Florida is a division of FirstBank Puerto Rico. Product and services available only in Florida.

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