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Narrator: When you want to withdraw funds from an IRA account, you have several routes to choose from. Please note that distributions may be subject to taxes and penalties depending on the type of IRA the distribution is taken from. Select Move Money, then choose Transfers & Payments.
Move Money, then Transfers & Payments is selected.
Narrator: Here, you'll see options for making your withdrawal, starting with Online Transfers.
Online transfers is selected.
Narrator: You'll first select the IRA account you'd like the distribution from, then which account you'd like the distribution sent to.
From and To accounts are selected.
Narrator: From there, you'll just need to enter the amount, frequency, and date. From the Online Transfers page, you can also choose Request a Check.
Request a Check is selected.
Narrator: Checks take six to nine business days to arrive with no fees unless you want it sent overnight. You'll just need to enter the amount, frequency, and transfer date, as well as whether you want to withhold any federal tax. You can also choose to write checks to yourself. To do so, select Support and choose Debit Cards & Checks.
Support, then Debit Cards & Checks is selected.
Narrator: Select Checks, then select Order Checks and Deposit Slips and follow the instructions provided to enable check-writing features or order checkbooks.
Checks is selected, then Order Checks and Deposit Slips is emphasized.
Narrator: When writing yourself a check, just make sure you have an available balance of cash for the amount you're writing a check for. If you're holding securities, you may need to sell some of them. Additionally, this option may not be eligible for non-US citizens or those taking early distributions.
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Narrator: You can also request a withdrawal by visiting a local Schwab branch, calling Schwab directly, or completing and submitting an IRA distribution form that can be accessed at Schwab dot com slash resource slash IRA dash distribution dash form.
Contact details and website URL appear.
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