After an IRA account has been opened in the Portfolio Manager, a client can submit orders for contributions or distributions from the Client Portal.

IRA Contribution/Distribution Start

The process is begun from the Client Portal. The following steps describe the ACH request from the client perspective:

1. After logging in to the Client Portal, select the Transfer tab.
2. At the bottom of the Cash Transfers box, click Request Cash Transfer.
3. Enter the required Transfer details.
• Select the Account to associate. If the account is not an IRA account, see Client-led Standing Instructions/Cash Transfers (Pershing) instead.
• Select Contribution or Distribution.
• Select the Bank Account to associate. If the bank account has not been added, you will first need to add a new bank.
• Verify the account ownership. Currently, IRA contributions/distributions can only be done between accounts with the same owner.

At this point the experience diverges depending on whether this is a contribution or distribution. See the appropriate section below.

IRA Contribution

1. Set the contribution Frequency.
2. Set the contribution Start Date.
3. Prior to April 15 you can opt to apply the contribution to the previous tax year with the Apply To Tax Year drop-down.
4. Set the contribution Amount. Note that the interface will inform you of the annual limit and amount already contributed for the selected year.
5. Enter a Transfer Memo and click NEXT to continue to sign and submit the paperwork.

IRA Distribution

1. Set the distribution Frequency.
2. Set the distribution Start Date.
3. Set the Distribution Amount. The options here will change depending on if this is a one-time or recurring distribution.
• (One time only) Total Distribution of entire account in cash and securities, closing the account.
• (One time only) Total Distribution of entire account in cash only, closing the account. You will have to arrange for your advisor/financial institution to liquidate all assets.
• One time partial distribution. Set an amount and whether the amount desired is gross (pre-tax) or net (post-tax).
• (Recurring only) Principal Payment. Set an amount to distribute from the principal contributed to the IRA account.
• (Recurring only) Income and interest. Set an amount to distribute from only the income and interest on the account.
4. If this is the first distribution request and standing instructions for Federal and State tax have not been established, they will need to be set below. If you want the selected tax option to apply to all future distribution requests, select the Standing Instruction box.
5. Set the Federal and State Income Tax Withholding option.
• Do NOT withhold: no taxes will be withheld unless mandatory.
• Withhold: Withhold tax at the standard rate. For Federal tax this will be 10%, the state % will be set based on your address.
• Withhold Custom: Set a custom rate of tax witholding from the distribution. For Federal tax this can only be a $ amount, not a percentage.
6. Click NEXT at the bottom to proceed to sign and submit the paperwork.