IRAs (Individual Retirement Accounts)

What Type of Assets Can You Contribute to Your IRA?

Except for rollover contributions (see the section Rollovers to Your IRA), all contributions to an IRA must be made in cash. No deduction is allowed for any contributions of property other than cash. Cash means currency or negotiable instruments. Once the IRA account is established, the funds can generally be invested in almost any type of investment.

IMPORTANT NOTE: An IRA cannot be invested in collectibles. Collectibles include any work of art, rug, antique, gem, stamp, coins (other than certain gold or silver coins issued by the U.S. and certain state-issued coins), alcoholic beverages (such as vintage wines), musical instruments, historical objects, or any other item the IRS deems to be a collectible.

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*Non-deposit investment products and services are offered through CUSO Financial Services, L.P. ("CFS"), a Registered Broker-dealer (Member FINRA/SIPC) and SEC-registered Investment Advisor. Products offered through CFS: are not NCUA/NCUSIF or otherwise federally insured, are not guarantees or obligations of the credit union, and may involve investment risk including possible loss of principal. Investment Representatives are registered through CFS. General Electric Credit Union has contracted with CFS to make non-deposit investment products and services available to credit union members.