Skip to content
English
Sign in
  • There are no suggestions because the search field is empty.

IRA Contributions And Distributions: What You Need To Know

Whether you're funding your future or making withdrawals, here's a streamlined guide to handling IRA contributions and distributions at Advisor Wealth Management.

✅ Before You Start: Cash Must Be Ready

Make sure you have settled cash in your account before submitting any contribution or distribution request. If funds aren’t available, your transaction could be delayed.

📥 IRA Contributions

You can fund the following accounts via ACH transfer:

Account Type Eligible Contribution Reason
Traditional IRA, Roth IRA, Rollover IRA Regular, Rollover (60-Day)
SEP IRA Employer, Rollover (60-Day)
Solo 401(k) Employer, Employee

Important Notes:

  • Contributions submitted via our portal are applied to the current tax year based on the transfer date.

  • Recurring contributions will automatically count toward the new tax year starting Jan 1.

  • Want to apply funds to the previous year (Jan 1–Apr 15)? Submit a one-time contribution.

🚫 Not Eligible for Contributions

  • Beneficiary IRAs (Traditional & Roth) – Additional contributions are not allowed.

  • SIMPLE IRAs – Employees cannot contribute directly. Employers must mail checks and include a contribution breakdown by employee.

💼 SEP IRAs: Employer-Only Contributions

  • Current year only: We report contributions for the year funds are received, per IRS rules.

  • How to contribute:

    • ACH – Account owner only (must match bank owner)

    • Check or Wire – Include account number and name

  • Employees cannot contribute to SEP IRAs.

📤 IRA Distributions

You can request ACH withdrawals from the following accounts:

Account Type Allowed Distribution Reasons
Traditional IRA, Roth IRA, Rollover IRA, SEP IRA, SIMPLE IRA, Solo 401(k) Normal, Premature, Disability, Excess Removal (Current or Prior Year)
Beneficiary IRA Death
Beneficiary Roth IRA Normal, Premature

💸 Tax Withholding Options

  • Federal: You can withhold a minimum of 10%, or opt out entirely through the Altruist platform.

  • State: If you'd like state taxes withheld, submit the Altruist IRA Distribution Form. Requirements vary by state.

🏦 Other Distribution Options

  • Checks, wires, RMDs, and QCDs can be arranged through Altruist’s support team.

  • Excess contributions can be removed through the client portal or using the distribution form (select "Add Funds").

⚠️ A Friendly Reminder

We’re here to help, but we can’t provide tax or legal advice. Please speak with a tax professional before taking action.

Still have questions? Let us know how Contact us at help@advisor.com