Distribution accounting for federal/state tax withholding
Transfer of assets between like-IRAs at SoFi
Recharacterization of Roth contributions to a Traditional IRA
Excess contribution removal accounting for Net Income Attributable (NIA) calculation
Direct rollover to an employer-sponsored plan
Instructions
Account Holder’s Information
Complete this section with your full legal name, Roth IRA account number, and Social Security Number.
You do not need to complete the Beneficiary (Or Former Spouse) Information segment.
You can add/update your IRA Beneficiaries online.
Type of Distribution
Select the appropriate Type of Distribution.
For assistance calculating Net Attributable Income (NIA), please consult your qualified tax professional.
Distribution Method
One-Time Distribution is selected for partial distributions paid in cash or securities .
Total Account Distribution is selected for FULL account distributions less any applicable fees.
Federal and State Tax Withholding
This segment is not required for excess contribution removals, recharacterizations, or transfers to identical IRAs at SoFi.
Some states may require withholding and/or provide a method for opt-out
We encourage you to speak with your qualified tax professional regarding your unique circumstances.
Delivery Instructions
Most distributions will be an ACH to the Bank Account on file; List the last 4 numbers of the destination bank account.
If transferring between like-Roth IRAs at SoFi, select the box To the following Apex Account via Journal and enter the receiving Roth IRA account number.
If requesting a Direct Rollover to an employer plan, the check instructions must match the instructions on your firm’s Letter of Acceptance.
Alternative delivery methods are only available on an exception basis.
Signature
Electronically or physically sign your name.
A typed name is insufficient for a signature.
Important Notes
Distributions from a Traditional IRA may trigger tax consequences. We encourage you to speak to a qualified tax professional about your unique circumstances.
You can submit your completed form to an Investment Specialist via chat.
Form example below:
The highlighted segments must be completed and additional segments may be required based on the distribution type.