Distributions

How do I take a cash distribution from my IRA?

Please complete a Distribution Request, documenting the distribution type, amount, and frequency. Distributions can be sent to you via check, wire or recurring ACH (only available if distribution is recurring at least quarterly).

How do I distribute an asset from my IRA?

You provide Madison Trust Company with the following items:

Distribution Request Form
Updated third party certified value (such as an appraisal, letter from investment sponsor, or CPA certified valuation)
Some investments will require additional documents (real estate, notes, etc.)

Madison will send an Assignment of Interest to you documenting the transfer of ownership from your IRA to yourself personally.

How much must I take out of my IRA at age 72?

Required minimum distributions (RMDs) must be taken each year beginning with the year you turn age 72. The RMD for each year is calculated by dividing the IRA account balance as of December 31 of the prior year by the applicable distribution period or life expectancy. This rule does not apply to your Roth IRAs. You can determine your distribution period or life expectancy by using the Tables in Appendix B of Publication 590-B, Distributions from Individual Retirement Arrangements (IRAs).

Table I – for beneficiaries.
Table II – for owners whose spouse is 10 years younger and the IRA’s sole beneficiary
Table III – for all other owners (most IRA owners will use this table)

Everything from customer service to setting up my account to getting my money was A+. I would highly recommend doing business with them.

Joe D.
Solid service and attention to detail.

Clint C.
They were fast efficient and did what they said they would. Would recommend.

Gabriel E.
Madison Trust is that rare company where customer service is alive and well. No endless phone menus just to be routed to a call center somewhere overseas. Instead, your calls are answered by associates who have great communications skills and who really know their stuff! They are quick to answer any questions you may have and will make sure you are satisfied by the end of your call. It really is a pleasure to do business with this company.

Mark P.
Madison Trust has been great to work with. They’ve been responsive, helpful and I can actually talk to a real person when I need to. So refreshing these days.

Michael K.