How do I make a Required Minimum Distribution (RMD)?

To make an RMD from your tastytrade IRA account, you'll need two things:

1. Calculate your RMD amount.
2. Initiate a withdrawal.

To process an RMD for the 2023 calendar year via wire, the  paperwork should be submitted to banking@tastytrade.com in good order before 11 AM Central on Friday, December 29, 2023. Requests are then handled on a best efforts basis. 

For RMD withdrawals via ACH, check, or internal transfer you must submit your withdrawal before 1 PM Central on Friday, December 29, 2023 (standard withdrawal cutoff time).

#1) How do I calculate my RMD?

You have three options for determining your RMD from your Traditional IRA.

1. If the IRA has been held at Apex via tastytrade before December 30, 2022, please contact our banking team at banking@tastytrade.com, and we can help look it up for you.
2. You can calculate it yourself by visiting the IRS website and using the Required Minimum Distribution Worksheets to determine your required minimum distribution (Please note: You are leaving tastytrade.com and going to IRS.gov).
3. Alternatively, you can use the SEC's Required Minimum Distribution Calculator by clicking here to calculate your required minimum distribution (Please note: You are leaving tastytrade.com and going to investor.gov).

#2) Initiate a withdrawal (distribution)

You may initiate a withdrawal (or distribution) from your IRA by logging in to your account manage.tastytrade.com. You can withdraw your RMD by ACH, check, wire, or internal transfer to a non-retirement account such as an individual cash or margin account. Completing one of these transactions on manage.tastytrade.com eliminates the need to send in paperwork.

ACH, Check, or Internal Transfer

To initiate a withdrawal (or distribution) from your IRA, log in to your account at manage.tastytrade.com and navigate to My Money>Withdrawals. You can set up an ACH withdrawal to an already linked bank or send a check to the address associated with your tastytrade account. Our clearing firm charges a $5 fee for standard mail check delivery or $50 for overnight check delivery. Additionally, you can internally transfer funds to a non-IRA account.

• To learn how to link your bank account, please click here.
• To learn more about ACH cutoff times, please click here.
• To learn more about withdrawing by check, please click here.
• To learn how to initiate an internal transfer, please click here.

Donating an IRA Distribution to Charity

You'll need to complete an IRA Distribution Form when donating an RMD or IRA distribution to charity. You can download the form by going to our Forms & Agreements page. Please send completed forms to banking@tastytrade.com.

Page 1

• Under the Type of Distribution section, select Normal. 

Page 2

• Under the Distribution Method section, select One Time Distribution. 

Page 3

• A notary is required when donating your distribution to a charity.

Our clearing firm does not have a special distribution code for distributions remitting to a charity. We encourage you to reach out to a tax professional to reflect any charitable donation when preparing your taxes.