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Sit SIMPLE IRA Distribution Form
Description of Form
Use the Sit SIMPLE IRA Distribution Form to request a withdrawal/distribution from your SIMPLE IRA.
Sit SIMPLE IRA Participants Use This Form To:
Take distributions from a SIMPLE IRA for one of the following reasons:
- Normal distribution (age 59½ and over)
- Early distributions (before age 59½) are subject to a 10% penalty; exceptions apply—see the SIMPLE IRA Distributions page for more information
- Remove excess contribution
- Permanent disability
- Due to death/beneficiary liquidation
- Schedule substantially equal periodic payments
- Direct rollover to a qualified plan such as a 401(k)
- Qualified reservist distribution
- Required minimum distribution (after age 70½)
Other Information
A Medallion Signature Guarantee is required to send proceeds to someone other than the IRA owner.
Additional documentation may be required if you are taking a distribution for one of the following distribution reasons:
- Due to Death/Beneficiary liquidation
- Permanent disability
- Divorce/legal separation
Sit SIMPLE IRA Distribution Form