My BSI Account | Order Routing Info | Careers | Contact Us

You can open either a Traditional or a Roth IRA quickly and easily by downloading the appropriate IRA enrollment kit, completing the requisite forms, and mailing it back to us. The following provides a brief overview of the features and benefits of each type of IRA. If you have any questions or need additional information or assistance, please contact a Burnham Investors Trust representative at 1-800-462-2392.
TRADITIONAL IRA
Description: An individual retirement plan that permits tax-deferred savings for workers under the age of 70½ . Features: Tax deductions depend on salary level and whether the IRA owner participates in an employer-sponsored retirement plan. Whether deductible or nondeductible, contributions grow tax deferred.1 IRAs can be consolidated by filling out a Burnham Traditional IRA Application and a Transfer of Assets Form for each IRA held elsewhere. Who's Eligible: Anyone with earned income before the tax year in which age 70½ is attained. For married couples filing jointly, a nonworking spouse may also fund an IRA contribution based on the earned income of the working spouse (up to $5,000). Annual Contributions: Up to $5,000.2 Contributions must be made by April 15 to be considered as a prior calendar year contribution. Download Burnham Traditional IRA Kit & Forms
ROTH IRA
Description: An individual retirement plan that permits tax-free earnings and distributions. Features: Contributions are nondeductible, but qualified distributions are tax free. Permits tax-free and penalty-free withdrawals of earnings after five years.3 Permits tax-free and penalty-free withdrawals of contributions at any time.4 Contributions allowed after age 70½. Traditional IRAs held at Burnham Investors Trust or elsewhere may be converted to a Roth IRA by filling out an Burnham Investors Trust Roth IRA Application and a Conversion Form.4 Who's Eligible: Anyone with earned income that does not exceed the following annual adjusted gross income (AGI) limits: $110,000 for single tax filers or $160,000 for joint tax filers. For married couples filing jointly, a nonworking spouse may also fund an IRA contribution based on the earned income of the working spouse (up to $5,000). Anyone who is not filing a "married filing separately" tax return and has an annual AGI that does not exceed $100,000 can convert his/her Traditional IRA to a Roth IRA.4 Annual Contributions: Up to $5,000.2 Contributions must be made by April 15 to be considered as a prior calendar year contribution. Download Burnham Roth IRA Kit & Forms
ADDITIONAL FORMS
Automatic Investment Form - this service enables you to set up automatic investments into your BIT retirement account. Beneficiary Designation Form - allows you to select primary and secondary beneficiaries of your BIT retirement account. IRA Distribution Election Form - utilized to select the method of distribution (lump sum, systematic, etc.) for BIT retirement accounts. IRA Distribution Form - allows you to take a distribution from your BIT Traditional IRA. Roth IRA Withdrawal & Distribution Form - enables you to take a distribution from your BIT Roth IRA. The above information is not intended to be tax advice. Please consult your tax advisor for detailed information. Burnham Investors Trust representatives are not tax advisors. 1. Any withdrawal made prior to age 59½ will be taxed as ordinary income and may be subject to an additional 10% IRS-imposed penalty. 2. Contributions for both ROTH and Traditional IRAs in aggregate cannot exceed $4,000 per year for tax years 2005 through 2007. That contribution limit is increased to $5,000 for 2008 and thereafter. For individuals who have reached the age of 50 before the close of the tax year, the contribution limit is increased to $4,500 for 2005, $5,000 for 2006 and 2007, and $6,000 for 2008 and thereafter. For tax years after 2008, the above limits will be increased to reflect a cost-of-living adjustment, if any. 3. After an account has been open for five years, withdrawals of earnings from a Roth IRA are not subject to income tax or the 10% premature withdrawal penalty if the individual is at least 59½, dies, is disabled or uses up to $10,000 of the account's earnings for a first-time home purchase. 4. Subsequent withdrawals of assets previously converted from a Traditional IRA to a Roth IRA may be subject to certain withdrawal penalties.