- Overview
- Rates
- Forms
- FAQs & Help
Choose the term and interest rate that best suit your investment plan.
Plus, you could get potential tax breaks and savings on your current year tax return.
* An H&R Block Bank CD IRA can be opened as either a Traditional or a Roth IRA.
You choose based on your unique situation and savings goals.
- Traditional CD IRA : Contributions are often tax-deductible, and earnings are tax-deferred. Distributions at retirement are taxed as income (except for those portions of the distribution corresponding to contributions that were not deducted). You must begin taking distributions by April 1st the year following the year in which you reach age 70½. Account opening is available by submitting a paper application.
- Roth CD IRA : Contributions are not tax-deductible; however, contributions can be withdrawn at any time tax-free. Earnings can be withdrawn without taxes or penalties if you are age 59½ and your account has been open five years or more. Account opening is available by submitting a paper application.
* Please consult your tax professional for further information regarding tax-deductibility of Traditional IRA
contributions, tax-deferred/tax-exempt interest, limitations and tax consequences of distributions for college
expenses and first-time home purchases, and additional IRS rules governing both Traditional and Roth IRAs.
Severe penalties may be imposed for contributions and distributions not made in accordance with IRS rules.
CD IRA Interest Rates
| Product Description | Interest Rate | APY |
|---|
Minimum opening deposit is $250.
Annual Percentage Yield (APY) accurate as of and is subject to change without prior notice. Fees may reduce earnings on the account. See fee disclosure and account agreement for details.
Rate and fees subject to change at any time and are not guaranteed until CD is opened. Penalty may be imposed for early withdrawal.
FDIC insured up to $250,000 per depositor for all deposit accounts and IRAs.
Traditional CD IRA application
To open a CD Traditional IRA with H&R Block Bank.
Roth CD IRA Application
To open a CD Roth IRA with H&R Block Bank.
CD IRA Redemption
To withdraw money from an H&R Block Bank IRA.
*Note: Distributions from a CD IRA prior to maturity may incur penalties.
Interested Party Request Form
To add an interested party to your H&R Block Bank IRA.
Change of Address Form
To submit your change of address request on your H&R Block Bank IRA account.
Change of Beneficiary
To make a change or add a beneficiary to your H&R Block Bank IRA account.
How can I open a CD IRA?
Download and complete the application.
- Traditional CD IRA application
- Roth CD IRA application
Is there a minimum balance required to open a CD IRA?
Yes. The minimum balance required to open a CD IRA is $250.00
What are the fees associated with my H&R Block CD IRA?
Please reference fees disclosed in your account opening paperwork.
How do I make an additional contribution to my H&R Block Bank CD IRA?
Additional contributions may be added to your CD IRA at maturity. Please
click here for information on making contributions via check or ACH deposit.
How do I make a Direct Transfer or Direct Rollover of Funds?
You can request a direct transfer from an IRA or a direct rollover from an employer plan into your CD IRA at H&R
Block Bank. To make sure you have the correct form please contact a customer service agent at 1-888-OUR-HRBB
(687-4722) and select the Savings and IRA Accounts option.
How frequently will I receive an H&R Block CD IRA statement?
CD IRA statements are mailed on an annual basis. This statement is known as your Fair Market Value (FMV) letter.
H&R Block Bank mails these forms by January 31 annually.
What is IRS Form 5498?
IRS Form 5498 reports contributions you have made to your CD IRA and is mailed by May 31 annually.
This form is for informational purposes only, therefore, you do not attach it to your tax return.
What is IRS Form 1099-R?
IRS Form 1099-R reports distributions you have made from your CD IRA and is required to complete your tax return.
H&R Block Bank mails these forms by January 31 annually.
If you have made a distribution from your IRA and have not received your Form 1099-R within 10-14 calendar
business of the mail date listed above, please call 1-888-OUR-HRBB (687-4722) to request a reprint of your form.
Where can I find the current interest rate on my H&R Block CD IRA?
To view the most current interest rate for our CD IRAs please
click here.
Are there any fees if I withdraw the funds from my H&R Block CD IRA and close it?
There is no account termination fee if the CD IRA is distributed at maturity.
Distributions taken from the CD IRA prior to maturity may be assessed an early withdrawal penalty applicable to
the term of the CD IRA. You may also be subject to tax and/or a 10% penalty from the IRS for early distributions.
Can I access my H&R Block Bank CD IRA online?
Yes. You may enroll for online banking by
clicking here.
Whom can I call if I have additional questions about my H&R Block Bank CD IRA
Please call a customer service agent at 1-888-OUR-HRBB (687-4722) and select the Savings and IRA Accounts option.
How do I change the address on my CD IRA?
If you move and need to change or update the address on your H&R Block CD IRA, complete and submit a
Change of Address Form. Once completed, either fax to 1-866-812-3144 or mail to the address provided on the form.
How do I change beneficiaries on my CD IRA?
Download the
change of beneficiary form.
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