1 You’ll deduct your contributions on your tax returns; limits may apply.
2 Deductibility of contributions is dependent upon coverage by employer-sponsored retirement plan and your Adjusted Gross Income.
3 Subject to IRS income limitations.
4 There may be some limits on tax deductibility if you or your spouse has a retirement plan at work.
5 Based on 2021 tax year.
6 Your account must be open for 5 years and you must be over age 59½ (or meet certain other exceptions) to be eligible for qualified tax-free withdrawals.
7 Starting in 2020, the age for required minimum distributions (RMDs) increased from 70½ to 72. However, if you turned 70½ before December 31, 2019 you must take the RMD for 2019, and again in 2020 even if you're not yet 72.
8 For the year 2020, taxpayers have the option to not take an RMD. Subject to certain limited exceptions provided under the Coronavirus Aid, Relief, and. Economic Security (CARES) Act.
This document is intended to be educational in nature and is not intended to be taken as a recommendation.
Investment and insurance products are:
- Not insured by the Federal Deposit Insurance Corporation (FDIC) or any federal government agency.
- Not a deposit, obligation of, or guaranteed by any Bank or Banking affiliate.
- May lose value, including possible loss of the principal amount invested.
The subject matter in this communication is educational only and provided with the understanding that Principal® is not rendering legal, accounting, or tax advice. You should consult with appropriate counsel or other advisors on all matters pertaining to legal, tax, or accounting obligations and requirements.
Financial professionals are sales representatives for the members of Principal Financial Group®. They do not represent, offer, or compare products and services of other financial services organizations.
Insurance products and plan administrative services provided through Principal Life Insurance Co. Securities offered through Principal Securities, Inc., 800-547-7754, member SIPC. Principal Life and Principal Securities are members of Principal Financial Group®, Des Moines, IA 50392.
Principal® SimpleInvest is a discretionary investment advisory program that offers diversified investment portfolios for a fee. Principal® SimpleInvest is sponsored and managed by Principal Advised Services, LLC, which consults with Principal Global Investors, LLC in the creation of the portfolios and the selection of the underlying portfolio investments. Principal Global Investors, LLC also provides trading and execution services. Principal Advised Services, LLC and Principal Global Investors, LLC are members of the Principal Financial Group®. Brokerage and custodial services provided by Apex Clearing Corporation, member FINRA, NYSE and SIPC. Apex Clearing Corporation is not affiliated with any member of the Principal Financial Group®. Principal® SimpleInvest portfolios are comprised primarily of Principal® products, including affiliated mutual funds and ETFs.
Please refer to the Form ADV (PDF) and Form CRS (PDF) for Principal Advised Services, LLC, the Miscellaneous Fee Schedule (PDF) for Apex Clearing Corporation, and other applicable disclosures and agreements for important information about Principal® SimpleInvest and its services, fees and related conflicts of interest. All investments have inherent risks. Investing in Principal® SimpleInvest portfolios does not guarantee profit or protect against loss.
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