Coverdell IRA

Save for the future

Among the variety of IRA options available, Niagara's Choice offers the Coverdell Education Savings Account (formerly known as the Education IRA).

Who can contribute?

Anyone who has modified adjusted gross income:

• Single filer: up to $95,000

• Joint income for filers:

For 2003 and later years: up to $190,000.

• Some people with higher Modified Adjusted Gross Income may be able to make smaller contributions.

• Contributions not allowed after the beneficiary reaches 18 (except for 2002 and later years contributions allowed for special needs beneficiaries)

How much can I contribute?

$2,000 per child for 2003 and later years.

Limit applies to all Education IRAs (also known as the Coverdell Education Savings Account) for the same child.

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We cannot give tax advice or advise you as to your eligibility for the IRA. Please see your tax adviser for this information prior to opening the account.

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