Withdrawing Funds

Withdrawing Funds from Your Equity Trust Account

To receive funds from your Equity Trust account without penalty you must reach the age of 59 ½ (the Roth IRA as additional requirement that the account be open for 5 years). When you are ready to access funds, you must fill out and submit an Equity Trust Distribution Form. Equity Trust will then distribute funds to you.

Required Minimum Distributions when Turning 70 ½

If you have an Equity Trust Traditional IRA, SEP IRA, SIMPLE IRA, or Individual(k) Plan, per the IRS you are required to begin taking distributions from your account beginning in the year after you turn 70 ½ . The amount you are required to take out each year is determined by an IRS required percentage of your account balance. Contact your First Class Service Team for more information.

Special Note on Pre-Mature Distributions

Taking money out of an account before 59 ½ can subject you to a 10% premature distribution penalty, plus additional tax penalties. There are a few exceptiosn to the premature distribution rule including using the funds if you are disabled, have qualified medical expenses, or are a first-time home buyer, among others. Contact your First Class Service Team for more information.