IRA

IRA Regular, IRA Exenta, IRA Flexible Popular, Popular Roth IRA, IRA Stock Market y Stock Market  Roth IRA are products offered by Banco Popular de Puerto Rico. Member FDIC. Banco Popular offers numerous investment alternatives for IRA accounts. You can obtain detailed information at any of our branches or at www.popular.com/ira to determine which investment alternative suits you best. Banco Popular does not provide legal, accounting, or tax advisory services. If you require these services, you should consult with a professional specialized in these areas. Applicable charges for IRA Accounts: Processing fee: $5 per instrument for withdrawals and returns of excess contributions before age 75, $50 per instrument for transfers to another eligible institution and for garnishment fees. Department of Treasury penalties may apply to non-qualified withdrawals. Transaction fees per instrument. Local law requires the Bank to withhold 10% of the amount withdrawn if the withdrawal is for a non-qualified reason.

IRA Regular:  The principal and interest are insured by the FDIC up to the maximum allowed by law. Certain restrictions apply. Once the instrument is opened, no additional deposits or withdrawals are allowed until the maturity date . Interest is computed daily over the daily balance and is credited monthly. The method used to calculate interest is the daily balance method This method applies the daily periodic rate to the principal of the account each day. When opening the account with or depositing non-cash items (e.g., checks), interest begins to accrue on the business day which the transaction is made. Automatic renewals at maturity on successive equal terms at current interest rate offered by the Bank at the moment of renewal. There are no grace periods for IRA renewals. Penalties for withdrawals or cancellations before maturity are equivalent to 180 days of interest.

IRA Exenta: The principal and interest are insured by the FDIC up to the maximum allowed by law. Certain restrictions apply. Once the instrument is opened, no additional deposits or withdrawals are allowed until the maturity date. Interest is computed daily over the daily balance and is credited monthly. The method used to calculate interest is the daily balance method. This method applies the daily periodic rate to the principal of the account each day. When opening the account with or depositing non-cash items (e.g., checks), interest begins to accrue on the business day which the transaction is made. Automatic renewals at maturity on successive equal terms at current interest rate offered by the Bank at the moment of renewal. . There are no grace periods for IRA renewals. Penalties for withdrawals or cancellations before maturity are equivalent to 180 days of interest.

IRA Flexible Popular: The principal and interest are insured by the FDIC up to the maximum allowed by law. Certain restrictions apply. Additional deposits to the Flexible Popular IRA are allowed with a minimum of $100 through a branch or $25 through the Ira Ahorro (Telepago) service. Interest is computed daily over the daily balance and is credited monthly. The method used to calculate interest is the daily balance method. This method applies the daily periodic rate to the principal of the account each day. When opening the account with or depositing non-cash items (e.g., checks), interest begins to accrue on the business day which the transaction is made. Automatic renewals at maturity on successive equal terms at current interest rate offered by the Bank at the moment of renewal. No bank penalty applies for withdrawals or cancellations before maturity.

IRA Stock Market: The principal is insured by the FDIC up to the maximum allowed by law. After opening the Stock Market IRA, no additional deposits can be made at any time. Partial withdrawals are not allowed before the maturity date. The interest payable under the Stock Market IRA account, if any, is 1.25 (125%) of the percentage increase in the S&P index up to a maximum of 40%, with no guarantee of a minimum return at maturity. “Standard & Poor’s^®”, “S&P^®”, and “S&P 500^®” are registered trademarks of Standard and Poor’s^®, a division of McGraw Hill, Inc., and have been licensed for use by Popular Inc. The product(s) is/are not sponsored, endorsed, sold, or promoted by Standard & Poor’s^®, and Standard and Poor’s^® makes no representation regarding the advisability of investing in this product. Please refer to the Individual Retirement Account Agreement for more information related to, among other things, how interest is calculated. At maturity the account does not renew automatically into another Stock Market IRA and the total balance will be invested in an IRA Regular of five (5) years. Penalties for early cancellation during the first year will be 30% of the principal; 25% of the principal during the second year; 20% of the principal during the third year; 15% of the principal during the fourth year; and 10% of the principal during the fifth year.

Popular Roth IRA:  The interest generated on amounts contributed to a Popular Roth IRA is not taxable if it is part of a distribution for a qualified withdrawal reason without a Treasury penalty or is distributed after age 60. The principal and interest are insured by the FDIC up to the maximum allowed by law. Certain restrictions apply. Once the instrument is opened, no additional deposits or withdrawals are allowed until the maturity date. Interest is computed daily over the daily balance and is credited monthly. The method used to calculate interest is the daily balance method. This method applies the daily periodic rate to the principal of the account each day. When the account is opened with non-cash item (e.g., checks), interest begins to accrue on the business day the transaction is made. Automatic renewals at maturity on successive equal terms at current interest rate offered by the Bank at the moment of renewal. There are no grace periods for IRA renewals. Penalties for withdrawals or cancellations before maturity are equivalent to 180 days of interest.

Stock Market ROTH IRA: The interest generated on amounts contributed to a Stock Market ROTH IRA is not taxable if it is part of a distribution for a qualified withdrawal reason without a Treasury penalty or is distributed after age 60. The principal is insured by the FDIC up to the maximum allowed by law. After opening the Stock Market Roth IRA, no additional deposits can be made at any time. Partial withdrawals are not allowed before the maturity date. The interest payable under the Stock Market Roth IRA account, if any, is 1.25 (125%) of the percentage increase in the S&P index up to a maximum of 40%, with no guarantee of a minimum return at maturity. “Standard & Poor’s^®”, “S&P^®”, and “S&P 500^®” are registered trademarks of Standard and Poor’s^®, a division of McGraw Hill, Inc., and have been licensed for use by Popular Inc. The product(s) is/are not sponsored, endorsed, sold, or promoted by Standard & Poor’s^®, and Standard and Poor’s^® makes no representation regarding the advisability of investing in this product. Please refer to the Individual Retirement Account Agreement for more information related to, among other things, how interest is calculated. At maturity the account does not renew automatically into another Stock Market Roth IRA and the total balance will be invested in a Popular Roth IRA of five (5) years. Penalties for early cancellation during the first year will be 30% of the principal; 25% of the principal during the second year; 20% of the principal during the third year; 15% of the principal during the fourth year; and 10% of the principal during the fifth year.

Principal and interest are insured by the FDIC up to the maximum allowed  by law. Certain restrictions apply. Once the instrument is opened, no additional deposits are permitted. Withdrawals are allowed only for the beneficiary's post-secondary studies as established by the Department of Treasury. Interest is calculated daily on the daily balance and credited monthly. The method used to calculate interest is the daily balance. This method applies the daily periodic rate to the principal of the account each day. When the opening or deposit is made by non-cash items (e.g. checks), interest begins to accrue on the business day  which the transaction is made. Automatic renewals at maturity on successive  equal terms at current interest rate offered by the Bank at the moment of renewal. There are no grace periods on renewals. Penalties for withdrawals or cancellations before maturity are equivalent to: 90 days of interest on 1-year CAE and 180 days of interest on 3-year CAE. Withdrawal or cancellation penalty before maturity does not apply to funds withdrawn for the beneficiary's post-secondary studies. The processing fee is $5 per instrument on withdrawals, cancellations, and refunds of excess contributions; and $20 per instrument in transfers to another eligible institution. Banco Popular offers various investment alternatives. Obtain more information to determine which one is best for you.

Disclosures for the IRA that is an investment product: 

Popular Total Return Fund IRA: Product offered by Popular Securities, LLC. Investors should carefully consider the investment objectives, risks, charges, and expenses of the Investment Fund before investing. This and other important information is contained in the prospectus and the summary prospectus. You can access the prospectus by visiting popularfunds.com/resources. Read it carefully before investing. Investment products are not insured by the FDIC, are not deposits or obligations of, nor are they guaranteed by Banco Popular de Puerto Rico, its affiliates, and/or subsidiaries; they involve risk and may lose value, including the loss of the principal invested. Investment products and services are offered by Popular Securities, LLC, a registered broker/dealer, member of FINRA and SIPC. Investment advisory services are offered through Popular Securities, LLC, a registered investment advisor with the SEC. Popular Securities, LLC is a subsidiary of Popular, Inc. and an affiliate of Banco Popular de Puerto Rico. Popular, Inc. and Banco Popular de Puerto Rico are not registered broker-dealers or registered investment advisors. Banco Popular de Puerto Rico, its subsidiaries, and affiliates do not provide legal, accounting, or tax advisory services. If you require legal, accounting, or tax advisory services, you should consult with a professional specialized in these areas. Garnishment fee: $50, Processing fee: $5 per instrument for withdrawals and returns of excess contributions before age 75, $50 per instrument for transfers to another eligible institution. Department of Treasury penalties may apply to non-qualified withdrawals. Transaction fees per instrument. Initial fund management fee: 1% of the amount invested. Refer to the prospectus for updated information on the annual fund management fee. Local law requires the Bank to withhold 10% of the amount withdrawn if the withdrawal is for a non-qualified reason.