Contributions and Distributions for IRAs

There are two ways to contribute to or initiate a distribution from an IRA. You can either fund through a linked bank account and or make a transfer from a non-IRA trading account. 

  1. To/From a bank account
  2. To/From a non-ira trading account
Forms mentioned below can be found in our Forms and Agreements page <- Click Here

To/From a Bank Account

You can make electronic contributions or distributions from your IRA by logging in to your account at manage.tastyworks.com. After signing in, navigate to My Money and select Deposit (for a contribution) or Withdrawals (for a distribution).

If you have a bank account linked with your tastyworks account, you can quickly make a contribution or distribution. Funds code according to the deposit or withdrawal type selected. To learn how to set up an ACH relationship with your account, please click here.

Please Note: At this time, you can only initiate one-time distributions online. Customers wishing to make recurring distributions from their IRA must fill out an IRA Distribution Request form and return it to banking@tastyworks.com.

Distributions from an IRA before the age of 59.5 years may be considered as an unqualified distribution and subject to a 10% early withdrawal penalty. To learn more about exceptions, please visit the IRS by clicking here.


To/From a Non-IRA Trading Account

Do you have a tastyworks margin or cash account that you would like to use for your annual contribution to your IRA? Or perhaps you need to make a distribution from your IRA and want to fund a margin or cash account? Either way, internally transferring funds can be done to and from your tastyworks retirement accounts with an Internal Transfer To IRA Request form. Contributions may only be made in cash and not with positions.

However, distributions can be with stock. The value of any distribution made with stock from an IRA account to a non-IRA account is based on the previous day's closing price our clearing firm processed the distribution. For example, if a stock distribution was made on Dec. 11, 2018, the position's value is determined by the closing price of Dec. 10, 2018.


IRA Contributions (non-retirement to a retirement account) require the following forms:

  • Internal Transfer To IRA Request


IRA Distributions (retirement to non-retirement account) require the following forms:

  • For Roth IRAs, please use: Roth IRA Distribution Request
    • Under "Section VI. Delivery Instructions," check the "To the following account" box and enter your tastyworks margin or cash account.
  • For Traditional IRA, please use: IRA Distribution Request
    • Under "Section VI. Delivery Instructions," check the "To the following account" box and enter your tastyworks margin or cash account.

All forms mentioned are on our Forms and Agreements page.Don't know your account number? The title to your account and the account number is under the Account Status section after signing in at manage.tastyworks.com. 

Please send completed forms to our banking team at banking@tastyworks.com or fax it to 312-724-7364. Forms received before 11 am Central Time (Chicago time) will be processed the same day. Transfers will complete 1-2 business days after processing, but cash-only transfers are typically overnight. Same-day transfers of any kind are not possible at this time.