Bank - Easy IRA FAQs

H&R Block Easy IRA^® FAQs

What are the differences between traditional IRAs, Roth IRAs and savings accounts?
What are the fees associated with my H&R Block Easy IRA?
How is my money invested?
How do I make an additional contribution to my H&R Block Easy IRA?
How frequently will I receive an H&R Block Easy IRA statement?
Where can I find the current interest rate on my H&R Block Easy IRA?
Are there any fees if I withdraw the funds from my H&R Block Easy IRA and close it?
Can I access my H&R Block Easy IRA online?
Who can I call if I have additional questions about my H&R Block Easy IRA account?
How do I change the address on my Easy IRA?
Where can I go to get additional deposit slips or forms?
I took a tax deduction on my return for an H&R Block Easy IRA contribution that I intended to make, but I did not make it before the deadline. What do I need to do?
Can I open an H&R Block Easy IRA if I don't get my taxes done with H&R Block?

What are the differences between traditional IRAs, Roth IRAs and savings accounts?

If your objective is to:	Consider a:
If your objective is to:	Savings Account	Traditional IRA	Roth IRA
Start an emergency fund
Safely put away a sum of money while you decide how to use it
Save for an appliance, a vacation or other short-term goals
Save for future medical expenses
Save for a first home or college education¹
Save for retirement
Get an immediate tax deduction
Potentially increase your tax refund
Tax advantage of the Saver's Credit if you qualify (depending on your income)
Earn tax-deferred interest
Earn tax-free interest
Make tax-free withdrawals
Avoid penalties on early withdrawals at retirement
Avoid penalties on early withdrawals for any purpose
Continue saving past age 70½ without taking mandatory distributions
¹You are considered a "first-time homebuyer" if neither you nor your spouse has owned a home within the last 2 years.

What are the fees associated with my H&R Block Easy IRA?
The following are the fees associated with your H&R Block Easy IRA and are subject to change.

Account Opening	$0
Recontribution	$0
Account Termination	$25
Annual Account Maintenance	$0
Returned Check/ACH	$20
Statement Duplicate Copy	$3
Wire Transfer Out	$15
Priority Check Disbursement	$25
Transfer Funds to Another
Financial Institution	$25

How is my money invested?
The H&R Block Bank invests your money in an FDIC insured money market account.

How do I make an additional contribution to my H&R Block Easy IRA?
There are several ways to make additional contributions to your account:

You can make individual contributions by check to your H&R Block Easy IRA. Fill out the Deposit Form and then mail the form with a check. Please include your account number and the contribution year for your H&R Block Easy IRA on your check and mail it to the address below. Please note, contributions for prior year must be postmarked by the tax deadline, traditionally April 15.

H&R Block
P.O. Box 30227
Omaha, NE 68103-0227

You can set up automatic deposits into your H&R Block Easy IRA. A specific amount is withdrawn from your checking account on a monthly basis and contributed to your H&R Block Easy IRA. Complete a Direct Deposit form, attach a voided check, and fax to 1-866-812-3144 or mail to:

H&R Block
P.O. Box 2569
Omaha, NE 68103-0227

You can make a contribution to your H&R Block Easy IRA when you get your taxes prepared with H&R Block next year. Use your refund, 1-time debit or set up monthly automatic debits from your checking account at that time as well.

Transfer or Rollover Funds

You can transfer funds from an existing financial services account. To make sure you have the correct form please contact a customer service agent at 1-800-HRBLOCK and select the Savings and IRA Accounts option.
You can make a "rollover contribution" to your H&R Block Easy IRA. Rollovers are generally tax-free distributions if done within 60 days from one retirement plan into another retirement plan. Please fill out the Rollover form and mail it to:

H&R Block
P.O. Box 2569
Omaha, NE 68103-0227

How frequently will I receive an H&R Block Easy IRA statement?
You will only receive 1 yearly statement, which arrives in January and covers the previous year's activity.

Where can I find the current interest rate on my H&R Block Easy IRA?
You can get the most current interest rate by going to the H&R Block Savings Products Rates page.

Are there any fees if I withdraw the funds from my H&R Block Easy IRA and close it?
There will be a $25 fee applied against your balance when you close your account. There are no fees for partial withdrawals. However, you may be subject to tax or a 10% penalty from the IRS for early withdrawals.

Can I access my H&R Block Easy IRA online?
Yes, you can set up access to review your account online. If you would like to enroll, call us toll free at 1-888-OUR-HRBB (888-687-4722) and select Option 4 for Online Banking. Once you have enrolled, you will receive a confirmation by mail and instructions on how to access your accounts.

Who can I call if I have additional questions about my H&R Block Easy IRA?
Please call a customer service agent at 1-800-HRBLOCK and select the Savings and IRA Accounts option.

How do I change the address on my Easy IRA?
If you move and need to change or update the address on your H&R Block Easy IRA, complete and submit a Change of Address form. The following fields must be completed: account number, entire address printed clearly, signature, date. Once completed, either fax to 1-866-812-3144 or mail to:

H&R Block
P.O. Box 2569
Omaha, NE 68103-0227

Where can I go to get additional deposit slips or forms?
Please visit the Download Forms section of the site.

I took a tax deduction on my return for an H&R Block Easy IRA contribution that I intended to make, but I did not make it before the deadline. What do I need to do?
Please contact your tax professional as you may need to file an amended return.

Can I open an H&R Block Easy IRA if I don't get my taxes done with H&R Block?
Yes. Visit our H&R Block Easy Products page of the Web site and select the Easy IRA account opening option to open a new Easy IRA online.

Express IRA Conversion

We are pleased to announce that effective Sept. 15, 2008, all Express IRAs were converted to Easy IRAs at H&R Block Bank. This conversion allows you to enjoy many benefits including:

Ability to earn market-competitive interest
Elimination of the annual account maintenance fee
Online availability of managing your IRA and viewing your transactional history
Year-round access to our designated H&R Block Bank customer service representatives
The continued convenience of contributing at the tax office during tax preparation and funding with your tax refund

Following are answers to some questions you may have.

What if I had a direct deposit set up on my Express IRA?
If you currently participate in a direct deposit program by having funds drawn from your bank account and deposited to your current Express IRA, the program will continue at H&R Block Bank, with no interruption in service.

What if I had an automatic monthly investment on my Express IRA?
Any pre-established contributions from your checking or savings account will continue without interruption to your new Easy IRA.

Will I be charged any fees for this conversion?
You will not incur any fees for this conversion and transfer of services from HRBFA to HRBB.

How often will I receive statements for my new Easy IRA?
Statements for the Easy IRA cycle on an annual basis rather than quarterly; therefore, you may expect to receive one more statement from HRBFA, and then an annual statement from HRBB.

If you have any additional questions, please contact us at 1-800-HRBLOCK and select the Savings and IRA Accounts option.

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