IRA Distribution Form

This form is used to request a distribution from an existing Principal Bank IRA and must be completed before a distribution can be processed.

Once we receive your signed and fully-completed form, we will process your distribution shortly.

If you have questions about completing this form, give us a call 7 AM to 9 PM (CST), seven days a week at 1.800.672.3343.

* Notes when completing the form:

Failure to complete all necessary information may create a delay in processing
To withdraw the entire balance of the account, check the "Balance of Account" box in Section C1.
To withdraw a specific amount from the account without closing, check "Immediate Distribution of $" box in Section C1 and write in the dollar amount. Please indicate next to the dollar amount if this is a "net" amount.
If a withholding election is not selected, Principal Bank will withhold 10% for federal income tax and any applicable state income tax (See additional information on state income tax below).
If requesting a Disability Distribution, a Physician's Statement or Schedule R must accompany the signed Distribution Form.
If requesting a distribution due to divorce, a copy of the Qualified Domestic Relations Order must accompany the signed Distribution Form.
This form may be used if you wish to "Transfer to Another IRA" within Principal Bank. This form may not be used to transfer your Principal Bank IRA to another financial institution. Please contact your new custodian to initiate a direct transfer request.
If you would like your IRA Distribution quickly and securely transferred electronically to your checking or savings account at another financial institution, please complete Section C with all the requested information. Then print and return the IRA Distribution Form to the address listed under the signature section of the form.

For requests to transfer funds to your checking account at another financial institution, please include a voided check.
For requests to transfer funds to your savings account at another financial institution, please include a copy of a recent savings account showing your savings account number.

Wire Authorization Form (PDF: 155 KB) Same Day before 3:30 PM CST - Fees apply

State Tax Withholding:

If your state of residence has:	Your options for state withholding are:
Non-participatory State Withholding	You may not elect state withholding. State withholding is not available even if your state has state income tax. AK, FL, NV, NH, SD, TN, TX, WA, WY
Voluntary State Withholding	You may elect voluntary state income tax withholding. You must provide a specific percentage or dollar amount to be applied for state tax withholding. AL, AZ, CO, CT, DC, GA, HI, ID, IL, IN, KY, LA, MD, MI, MN, MS, MO, MT, NJ, NM, NY, ND, OH, PA, RI, SC, UT, VA, WI, WV
Mandatory State Withholding if Federal Tax is Withheld	If you elect federal income tax withholding, state tax withholding will be applied based on your state's applicable minimum requirements. You may elect a specific percentage or amount, however your requested amount must be equal to or greater than your state's minimum withholding requirement, otherwise we will apply your state's applicable minimum requirement. DE, IA, KS, ME, MA, NE, NC, OK, VT
Mandatory State Withholding	State tax withholding will be applied unless you elect to have no state tax withheld. If no election is made, we will apply your state's applicable minimum requirement. AR, CA, OR