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Preferred Branch

Mason City (641)423-1600 Change Location

Your Preferred Branch

Mason City Change Location

2601 4th Street SW
Mason City, IA 50401

Tel. (641)423-1600

Monday-Thursday: 9:00am - 4:00pm
Friday: 9:00am - 5:00pm
Sat: 9:00am - 12:00pm
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  • Charles City Branch
    300 North Main Street
    Charles City, IA 50616

  • Clarion Branch
    315 Central Avenue East
    Clarion, IA 50525

  • Kanawha Branch
    220 North Main Street
    Kanawha, IA 50447

  • Latimer Branch
    119 North Akir Street
    Latimer, IA 50452

  • Mason City State Street Branch
    33 East State Street
    Mason City, IA 50401

  • Mason City West Branch
    2601 4th Street SW
    Mason City, IA 50401

  • Mora Branch
    730 Forest Ave East
    Mora, MN 55051

  • New Hampton Branch
    124 West Main Street
    New Hampton, IA 50659

  • Osage Branch
    501 Main Street
    Osage, IA 50461

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Home Wealth Management Wealth Management Services IRAs and Retirement Plan Rollovers (401k, 457, 403b, etc)

IRAs and Retirement Plan Rollovers (401k, 457, 403b, etc)

With this type of Individual Retirement Account, you can choose either self-directed or give us full discretion in making investment decisions.

Traditional IRA
Traditional IRAs allow you to defer payment of taxes on contributions until the time of withdrawal.

Roth IRA
Roth IRAs differ from traditional IRAs in that contributions are not deductible at time of contribution, however,  withdrawals are tax-free.

Self-Directed IRA with Nontypical Assets
A self-directed IRA is not a special type of IRA. As shown above, Traditional and Roth IRAs allow you to decide what assets you wish to invest in, or you can let us help you decide what makes sense for you (fully managed). In addition, we offer an IRA which can hold assets which other IRA providers may not allow you to hold. Examples include: real estate; farm or rental properties, private stock, promissory notes, foreign currency, or precious metals.

Rollovers and Transfers
Consider an IRA rollover or transfer. When you are making career moves or retire, you can accomplish a tax-deferred rollover in two ways: by arranging for a trustee-to-trustee transfer (direct rollover) or by receiving the plan distribution and rolling it over to an IRA within 60 days, thereby avoiding the immediate tax consequences of a lump sum distribution. You can then continue to benefit from tax deferral and consolidate and streamline your retirement assets in a single, easy-to-manage account.

Products provided by First Citizens Wealth Management are not insured by the FDIC, are not deposits of the bank and are not guaranteed by this institution; and, are subject to investment risks, including possible loss of the principal invested. Please note that neither First Citizens Bank nor the First Citizens Wealth Management department provide tax or legal advice. You should always consult an attorney along with a tax professional to determine how to prepare the best estate plan for your situation.


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