How do I take a cash withdrawal or distribution from my account?

If you need to take a cash distribution from your SDIRA but want to keep the account open, you can easily request a distribution through the online portal. Remember, distributions are taxable events, so the funds you withdraw will be subject to taxes. Also, distributions must be sent directly to you as the account holder.

Follow these steps to submit your withdrawal request:

Instructions for Taking a Cash Distribution:

1. Log in to the Online Portal

   • Access your SDIRA account by logging in to the online portal.

2. Click on the "Move Money" Button

   • On your Dashboard, click the Move Money button and select Distribution.

3. Choose Your Withdrawal Type

   • Partial: Choose this option if you want to withdraw only a portion of your account balance.

   • Full: Choose this option if you wish to withdraw the entire cash balance from your account, but still keep the account open.

4. Enter the Withdrawal Amount

   • Enter the amount you wish to withdraw. Do not use the dollar sign, just the amount and a decimal (e.g., 5000.00).

5. Choose Your Withdrawal Method

   • New: Select this option if you don’t have any existing Bill Pay entries set up for distributions. You will need to enter new details for this transaction.

   • Existing: Select this option if you already have an established Bill Pay entry for personal distributions.

6. Select Your Funding Method

   • Choose how you want the funds to be sent to you:

     • Wire: Provide the banking details for the receiving bank to wire the funds.

     • Check: Enter the carrier details and specify how you want the check sent (e.g., standard or expedited delivery).

   • If you selected "Existing" in Step 5, simply choose the existing Bill Pay entry from the drop-down menu.

7. Review Your Information

   • Click the Review button to ensure everything is correct.

   • If all looks good, click Submit to process your withdrawal request.

Processing Time:

• Withdrawal requests typically take 3-5 business days to process.

• Once processed, the funds will be sent to you via the method you selected (wire transfer or paper check).

Important Notes:

• Tax Considerations: All distributions are taxable events. Depending on the amount withdrawn and your tax situation, you may owe taxes. It’s advisable to consult with a tax professional for guidance.

• Funds Availability: Withdrawing funds will not close your account. You can continue to manage the remaining assets in your SDIRA.

• This is Not a Transfer Request: A withdrawal or distribution request cannot be used to transfer funds directly to another custodian. If you wish to transfer funds to another custodian, follow the instructions for submitting a Transfer Out request.

If you have any questions or need assistance with your withdrawal request, feel free to reach out to AET Support—we’re here to help!