Easy IRA Help

If you have any questions about our products or services you can find the answers here.

FAQs

Forms

Rates

Contributions

Distributions

Contact

FAQs

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

If your objective is to:

Consider a:

Savings
Account Traditional
IRARoth
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 education²

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 withdrawals¹

Avoid penalties on early withdrawals at retirement

Avoid penalties on early withdrawals for any purpose

Continue saving past age 70 without taking mandatory distributions

²You are considered a "first-time home buyer" if neither you nor your spouse has owned a home within the last 2 years.

A qualified distribution is any payment or distribution from your Roth IRA that meets the following requirements.

1. It is made after the 5-year period beginning with the first taxable year for which a contribution was made to a Roth IRA set up for your benefit,
-AND-
2. The payment or distribution is:
a. Made on or after the date you reach age 59,
b. Made because you are disabled,
c. Made to a beneficiary or to your estate after your death, or
d. One that meets the requirements listed under First home under Exceptions in chapter 1 (up to a $10,000 lifetime limit).

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?

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?

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. Please note, contributions for prior year must be postmarked by the tax deadline, traditionally April 15) on your check, and mail to:

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

Transfer or Roll Over 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?

IRA Statements are mailed on an annual basis. You should receive your annual IRA Statement in February.

Where can I find the current interest rate on my H&R Block Easy IRA?

You can get the most current interest rate by clicking the Rates icon at the top of this 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 termination fee applied against your balance when you close your account. No termination fee will be applied to a partial distribution, unless the amount requested lowers the value of your account under the $25 minimum balance rule. In this case, the $25 termination fee will be applied and the remaining balance will be distributed to you. You may also 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?

Click the Forms icon at the top of this page.

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, you can go to www.hrblock.com/bank/easy products and select the Easy IRA account opening option to open a new Easy IRA online.

Express IRA conversion questions:

Overview:

We are pleased to announce that effective Sept. 15, 2008, all Express IRAs at H&R Block Financial Advisors (HRBFA) 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

Some questions you might 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 in February.

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

Forms

To open the forms listed below, you must use Adobe Acrobat Reader, a free application used to view PDF files. If you don't have Acrobat installed, you can download this application for free.

H&R Block Easy IRA Withdrawal Form

What is it? A form used to withdraw money from an H&R Block Easy IRA.

What is it used for? To take a distribution from an H&R Block Easy IRA.

How long will it take to process my request? Upon receiving your form, it will take approximately 7 to 10 days to process your request.

What do I do with the form? The following are the fields that must be completed before processing: account number (or SSN), name, distribution amount, method of payment (include new address if different from account), signature and date. The following are recommended fields for H&R Block Easy IRA distributions: withholding election and distribution. Once completed, either fax to 1-866-812-3144 or mail to:

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

H&R Block Easy IRA Deposit Form

H&R Block Easy IRA Deposit Form

What is it? A form used to make a 1-time deposit to your H&R Block Easy IRA account.

What is it used for? This form will allow you to make a deposit to your H&R Block Easy IRA account.

How long will it take to process my request? Upon receiving your form and check it will be processed and deposited within 48 hours.

What do I do with the form? Please complete the form and make sure to include your account number on your check. Once completed, please mail to:

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

H&R Block Easy IRA Interested Party Request Form

H&R Block Easy IRA Interested Party Request Form

What is it? A form used to add an interested party to your H&R Block Easy IRA.

What is it used for? This form will allow someone other than the account holder to receive statements on your H&R Block Easy IRA.

How long will it take to process my request? Upon receiving your form, it will take approximately 7 to 10 days to process your request.

What do I do with the form? All fields must be completed and either faxed to 1-866-812-3144 or mailed to:

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

Direct Deposit Form

Direct Deposit Form

What is it? A form used to set up, change or cancel a monthly direct deposit to your H&R Block Easy IRA account.

What is it used for? This form will allow you to set up, cancel or change a monthly direct deposit for your H&R Block Easy IRA.

How long will it take to process my request? Upon receiving your form, it will take approximately 7 to 10 days to process your request.

What do I do with the form? The following fields must be completed: name, account number, initiate change or cancel field (note: if you wish to cancel your direct deposit over the phone, please contact the Customer Service Center at 1-800-HRBLOCK), dollar amount, monthly date (only the 1st, 15th or the 25th are valid dates), signature and date. Attach a voided check and mail to:

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

Change of Address Form

Change of Address Form

What is it? A form used to submit your change of address request on your H&R Block Easy IRA account.

What is it used for? This form should be completed if you move and need to have the address on your H&R Block Easy IRA changed or updated.

How long will it take to process my request? Upon receiving your form it will take approximately 7 to 10 days to process your request.

What do I do with the form? The following fields must be completed: account number, entire address printed clearly, signature and date. Once completed, either fax to 1-866-812-3144 or mail to:

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

Change of Beneficiary

Change of Beneficiary

What is it? A form used to make a change or add a beneficiary to your H&R Block Easy IRA account.

What is it used for? This form will allow you to make a change or add a beneficiary to your account.

What do I do with the form? Complete the form and either fax it to 1-866-812-3144 or mail it to:

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

Rates

As of June 25, 2009, the H&R Block Easy Savings, Emerald Savings and H&R Block Easy IRA account annual percentage yield is 1.00%, which reflects a 0.998% rate of interest for the H&R Block Easy Savings and H&R Block Emerald Savings accounts, and a 0.995% rate of interest for the H&R Block Easy IRA.

Rates are variable and subject to change. The H&R Block Easy IRA account accrues daily and is credited monthly. The H&R Block Easy Savings account accrues daily and is credited quarterly. No minimum balance required to obtain the stated APY. Rate is subject to change after account opening. Fees may reduce earnings on the account. If you close your account prior to the crediting of interest, you will not receive the accrued interest.

Contributions

Don't forget to add to your Easy IRA at any H&R Block tax office. You can easily open or add to your existing IRA at the tax desk with part of your tax refund or through a transfer from your checking account. You can make a current- or prior-year contribution and you may be eligible for additional tax credits. Just ask your tax professional for more information.

The power of systematic investing. You can make a big impact on your retirement savings by starting early and setting aside a little bit each month. You can set up recurring monthly transactions into your Easy IRA for as little as $25 a month.

Quick Facts on IRA Contributions

Traditional IRA The maximum annual IRA contribution is $4,000 if you're younger than 50. Individuals age 50 and older can contribute up to $5,000. Contributions are often tax-deductible, and all transactions and earnings within the IRA have no tax impact. Withdrawals at retirement are taxed as income (except for those portions of the withdrawal corresponding to contributions that were not deducted). Owners must begin taking distributions by April 1 of the year after reaching age 70.
Roth IRA Contributions are made with after-tax assets. All transactions within the IRA have no tax impact, and withdrawals are usually tax-free.

How to Make a Contribution

1. Download the form

One-time contribution
Recurring contribution

2. Complete and send us the form

If funding via check or money order, send completed form and contribution to:

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

If funding via ACH, send completed form with voided check via mail to the address
above or via fax to 1-866-812-3144.

Distributions

Transferring or rolling over your money over to another IRA? Use the correct form to
avoid penalties.

Download &
Complete Form

Things You Need to Know

You can withdraw money from your IRA at any time, but penalties may apply.
A IRA Distribution Form is required to disburse money from your account.
Be sure to fill out all fields and sign your form to avoid delays.
There is a $25 account termination fee for full disbursements.

Options for Submitting your Request

Fax form to 866-812-3144 (quickest option)
Mail form to:
H&R Block Bank
P.O. Box 2569
Omaha, NE 68103-2569
Be sure to provide an e-mail address or phone number on your form and we'll notify you when we've received your form.
Once we receive your form, we will verify the information and process your request.

Send Us
the form

Process
Request

Options for Receiving your Money

Select 1 of the following disbursement options on your form:
ACH to your checking or savings account (include a voided check with your form)
U.S. Mail
Overnight mail (additional fees may apply)

IRA disbursements should be
received within 7 to 10
business days.

Sends Funds

Contact

Call Us

Call us toll free at 1-888-OUR-HRBB (888-687-4722).
To report a lost or stolen ATM or Debit Card, please call us toll free, 24 hours a day, at 1-888-OUR-HRBB (888-687-4722).

Reach Us Online