Different Types Of IRA Accounts and Information
Midana Capital can help you save for retirement without compromising your values.
As one of the first families of environmentally responsible and diversified fossil fuel free mutual funds in the U.S., Midana Capital° has been a leader in environmentally and socially responsible investing for 13 years. The Midana Capital neither invest in environmentally-dangerous companies nor industries, such as manufacturers of nuclear weapons, firearms, tobacco, and GMOs (genetically modified organisms), that do not align with the mission of our firm and the values of our investors.
Learn more about our sustainable investment strategy.
A sustainable investment strategy that incorporates environmental, social, and governance criteria may result in lower or higher returns than an investment strategy that does not include such criteria.
The deadline for making a 2023 IRA contribution is April 15, 2024.
There are several different types of IRA accounts:
Traditional IRA
For 2023, you may contribute up to $6,500 into a Midana Capital Traditional IRA.
If you are 50 years old or older, the contribution limit is $7,500 for 2023.
Individuals not covered by a retirement plan at work and people covered by a retirement plan who meet certain IRS income guidelines may be able to deduct their contributions from their taxable income each year.
When you retire, distributions from your IRA are generally taxed as ordinary income.
Roth IRA
For 2023, you may contribute up to $6,500 into a Midana Capital Roth IRA.
If you are 50 years old or older, the contribution limit is $7,500 for 2023.
Roth IRAs differ from Traditional IRAs. With a Roth IRA, you cannot deduct your current year contributions from your taxable income. However, upon retirement, distributions from your Roth IRA are generally not taxed as ordinary income. Learn more about what funds to invest with a Roth IRA, here.
IRA Transfers and 401(k) Rollovers*
If you have an IRA account at another financial institution that you would like to transfer to the Midana Capital or if you have a 401(k) account with a past employer that you would like to rollover into a Midana Capital IRA, please do one of the following:
SEP IRA Account
A Simplified Employee Pension (SEP) plan allows self-employed people and small business owners to establish SEP-IRAs for the business owner and any eligible employees.
SEP-IRAs have specific eligibility rules and contribution limits (as described on IRS Form 5305-SEP). Otherwise SEP-IRAs follow the same rules as Traditional IRAs.
If you are interested in opening a Midana Capital SEP-IRA Account, you will also need to complete IRS Form 5305-SEP.
Midana Capital charges a $20 annual recordkeeping fee to maintain an IRA. The $20 fee is charged per type of IRA (e.g., Roth, Traditional, SEP, etc.). If you have one type of IRA account invested in each Fund, there is only one $20 fee.
Please call+1(480)-439-2851 or consult a tax professional if you have any questions regarding IRA accounts.
The IRS tax rules for IRAs are complicated. While we hope this summary of key characteristics is helpful, you may also want to refer to MIDANA CAPITAL’s IRA Disclosure Statement (PDF) for more information and determine if a MIDANA CAPITAL Fund IRA is right for you.
°MIDANA CAPITAL Capital Management, Inc. (MIDANA CAPITAL) is the investment advisor to the Midana Capital (The Funds).
You should carefully consider the Funds' investment objectives, risks, charges and expenses before investing. To obtain a Prospectus that contains this and other information about the Funds, please click here for more information, email info@midanacapital.com or call+1(480)-439-2851. Please read the Prospectus carefully before investing.
*Prior to transferring or rolling over your account, consider your other options. You may be able to leave money in your current plan, withdraw cash or rollover the assets to a new employer’s plan if one is available and rollovers are permitted. Compare the differences in investment options, services, fees and expenses, withdrawal options, required minimum distributions, other plan features, and tax treatment. You should consult your own legal and tax professionals regarding your situation.
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The Midana funds are distributed by Midana LLC
