Customers may request Normal, Early, Early with Exception, Disability, Death, and Excess Contribution Distributions.
Please choose the correct distribution type from the Withdrawal Instructions under Account Management. You will also need to specify the tax withholding instructions.
Customers wishing to manually rollover their funds to another IRA account should indicate Normal or Early Distribution, depending on your age.
You will have 60 days from the payment of funds to roll them over to a third party IRA account in order to maintain IRA tax status. Withdrawals are permitted only in USD.
The deadlines for required minimum distributions (RMD) from your IRA account are:
Checks and ACH: 11:59PM ET December 29, 2014
Wires: 12:00PM ET December 31, 2014
For manual IRA Rollover or Trustee-to-Trustee Transfers to another IRA account, you must mail paper forms to the address below.
Interactive Brokers LLC
Attn: Retirement Accounts, Transfers
209 South LaSalle Street, 10th Floor
Chicago, IL 60604
Advisors can only create banking instructions for their master account. Banking instructions for advisor clients must be created by the clients
themselves. Once an advisor client has saved the bank information, either
the client may request a withdrawal or the Advisor may use that bank
information to make a withdrawal request on behalf of the client account.
Checks will only be made payable to the client, and electronic transfers
will be made only to an account in the client's name.
Note - Client initiated withdrawal requests require Advisor consent, however
if the amount is < 80% of the withdrawable amount and submitted prior to
5:00 p.m. ET, they will be auto-consented at the end of the current day and
the withdrawal will be processed the following business day. Requests
submitted after the 5:00 p.m. ET cutoff will auto-approve at the end of the
next day and process the day after approval. Requests representing 80% or
more of available funds will auto-consented to after 3 calendar days.
Multiple Hedge Fund Accounts
Investment Managers with multiple funds can only submit withdrawal requests for their master account. Withdrawal requests for the fund accounts must be created by the funds themselves.
Once a fund account has saved the bank information,
the fund may request a withdrawal or the Investment Manager may use that bank information to make a withdrawal request on behalf of the fund account. Withdrawal requests initiated by fund accounts must be reviewed and approved by the Fund Investment Manager.