Our Mason City State Street location will be CLOSED on May 6 & 7 due to construction.
During this time the lobby and drive up will both be closed. For full banking services, please visit the Mason City West location at 2601 4th St SW Mason City, IA. Thank you for your patience!
A HSA is an account designed to help you save specifically for health care costs.
Please consult your tax advisor for advice.
It helps you specifically save for health care costs, you control what health expenses the funds are used for, and the money in the account rolls over from year to year.
The tax filing date.
Their name, address, birth date, social security number, and relationship to owner.
Personal bankers will need to know what year contributions are for, the amount, and what type of IRA you would like to open.
Please consult your tax advisor for advice.
Non-deductible contributions
Certain distributions are tax free after a 5 year holding period.
No required minimum distributions
Effective January 1, 2023, Iowa taxpayers will catch a break on the state taxes paid on “retirement” income. The new law exempts Iowa taxation on all “retirement income” for those who are disabled or 55+ years old. It also exempts retirement income received by surviving spouses. Retirement income includes, but not limited to:
Client Note: For those of you that currently request withholding Iowa taxes from your IRA distributions, you will want to work with your accountant to determine if you will want to continue withholding. If you choose to change or discontinue state withholding from your IRA distribution in 2023 and beyond, please contact us as soon as possible at 800-423-1602.
If you have a high-deductible plan, you can allocate tax-free income toward your health with a health savings account.
Learn the difference between a HSA and FSA, and predict your health care costs.
Use the Financial Wellness Assessment to discover your personal finance strengths and weaknesses.
Beneficiary Info to Bring