Take a Distribution

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Distribution Form

Use this form to take a distribution or withdrawal from your IRA.
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FREQUENTLY ASKED QUESTIONS

What documents must be submitted to take a distribution from my IRA?

For a cash distribution, you will need to submit a completed and executed Distribution form to Vantage.

For an in-kind distribution, you will need to submit a completed and executed Distribution form, proof of re-registration and a Fair Market Valuation form and supporting documentation to Vantage.

What are the fees associated with taking a distribution?

It is $5 to issue a check or ACH the funds or a $30 fee to wire funds. There is no $5 check/ ACH fee if taking a Required Minimum Distribution.

How long will it take to process my distribution request?

Once Vantage has received the Distribution form in good order and/or funds and supporting documentation, your request will be completed within 72 hours.  You can expect to receive an email confirmation once your request has been processed.

Is it required for me to withhold taxes from my IRA distribution request?

No, you can elect to withhold federal taxes. If you choose to withhold, it cannot be less than 10%. If you reside in the State of Arizona, you can elect to withhold state taxes.

What are Required Minimum Distributions (RMDs)?

The minimum amounts that must be distributed to you from certain types of retirement account(s) after you reach age 70 ½ per IRS regulations.

How do I take a distribution of my asset without selling it (i.e. in-kind distribution)?

You will need to submit a completed and executed Distribution form, proof of re-registration, a Fair Market Valuation form and supporting documentation to Vantage.  You can expect to receive IRS Form 1099 from Vantage when a distribution is made from your IRA.

Can I take an IRA distribution directly from my IRA LLC checking account?

No, for correct reporting on your Form 1099, you must issue a check from the IRA LLC checking account for deposit into your Vantage IRA and then submit a completed and executed Distribution form to Vantage.  You can expect to receive IRS Form 1099 from Vantage when a distribution is made from your IRA.