How Do I Access My Wells Fargo Retirement Account?

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Wells Fargo is a major commercial banking institution that provides customers with comprehensive financial services. Having an individual retirement account through Wells Fargo gives you the option of owning a time certificate, money market or fixed annuity directly through your personal banker. You may also have a Well Fargo Investments IRA, which is not a bank IRA; Wells Fargo Investments is a subsidiary of Wells Fargo that is a full service brokerage firm. Accessing your IRA requires seeing the right representative to fill out the correct forms.

Things You'll Need

  • IRA statement
  • Walk into your local Wells Fargo branch or call the customer service number located on your IRA statement. Speak with a representative about taking a distribution from your IRA. The representative may refer you to a brokerage representative if your account is with Wells Fargo Investments.

  • Request the distribution form and fill out your name, address and account information. Include the amount of the distribution and whether it is a one-time withdrawal or systematic distribution happening regularly.

  • Check any boxes or write any notes as to whether the distribution qualifies for any special exemptions. This applies to distributions taken by IRA owners under the age of 59 1/2 for hardship reasons, college tuition or home purchase. The exemption eliminates the 10 percent tax penalty on the distribution.

  • Fill out the federal tax withholding section of the form. Those under the age of 59 1/2 will automatically have 20 percent withheld. Those of age will have the option to withhold or not.

  • Sign and submit the form. Bank distributions may happen immediately, whereas brokerage distributions may take three to five days to liquidate assets and process requests.

References

  • Photo Credit Justin Sullivan/Getty Images News/Getty Images
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