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How do I take my RMD from my retirement account?

Your required minimum distribution (RMD) is the minimum amount you must withdraw from your account each year when you reach age 70½.  You can schedule a withdrawal from your retirement account to satisfy your RMD. Here’s how: 

Login to your Wealthfront account and select the “Transfer Funds” link at the top of your dashboard and then the “Withdraw Funds” option.

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Select the retirement account you want to take the RMD from and select the “Normal/Qualified Distribution” option.

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You’ll then select the bank account where you want the funds deposited and be asked to enter the amount you want to withdraw. Click continue and then the “Submit Withdrawal” button.

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Please note that we’ll send a verification email to the email address on file. Once you verify the email we’ll execute the trades and send the funds to the bank account on file upon trade settlement. Withdrawals take approximately 3-4 business days to complete.

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Wealthfront prepared this article for informational purposes and not as an offer, recommendation, or solicitation to buy or sell any security. Wealthfront and its affiliates may rely on information from various sources we believe to be reliable (including clients and other third parties), but cannot guarantee its accuracy or completeness. See our Full Disclosure for more important information.

Wealthfront and its affiliates do not provide tax advice and investors are encouraged to consult with their personal tax advisor. Financial advisory and planning services are only provided to investors who become clients by way of a written agreement. All investing involves risk, including the possible loss of money you invest. Past performance does not guarantee future performance.

Wealthfront prepared this article for informational purposes and is not intended as tax advice nor as an offer, recommendation, or solicitation to buy or sell any security. Wealthfront does not represent that any strategy will result in any of the outcomes described, including the effectiveness of any strategy in reducing tax liability, as this depends on an investor’s specific tax and investment profile. Investors are encouraged to consult their personal tax advisors regarding their unique circumstances and any outcomes/consequences that may result from any investment strategy. Investors and their personal tax advisors are responsible for how the transactions in an account are reported to the IRS or any other taxing authority.

Wealthfront and its affiliates may rely on information from various sources we believe to be reliable (including clients and other third parties), but cannot guarantee its accuracy or completeness. See our Full Disclosure for more important information. Financial advisory and planning services are only provided to investors who become clients by way of a written agreement. All investing involves risk, including the possible loss of money you invest. Past performance does not guarantee future performance.

Financial advisory, planning, and investment management services are offered by Wealthfront Inc. (“Wealthfront”), an SEC registered investment adviser. Brokerage products and services offered by Wealthfront Brokerage Corporation, member FINRA / SIPC, and a wholly-owned subsidiary of Wealthfront.