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How to Take a Distribution from Your IRAVideo

Account Id: 4394098893001

Player Id: bb60d070-b695-4c55-9162-a421ad370a53

Video ADA Text: How to Take a Distribution from Your IRA Video

Transcript Browser Title: Video Transcript: How to Take a Distribution from Your IRA

Description:

English

Video Id: 6341253579112

Audio Description Video Id: 6341254264112

Length (seconds): 148

Transcript: <h2>Note:</h2> <p>Cheerful music plays.</p> <h2>On screen:</h2> <p>This video opens with a lightbulb icon and text over white:</p> <h2>On screen:</h2> <p>'Helpful Tips.'</p> <h2>On screen:</h2> <p>The background turns blue and becomes the screen of a laptop. The screen displays a title:</p> <h2>On screen:</h2> <p>'J.P.Morgan Wealth Management. How to take a distribution from your IRA.'</p> <h2>Note:</h2> <p>A bold disclaimer reads:</p> <h2>On screen:</h2> <p><strong>'Investment and insurance products:</strong></p> <ul> <li><strong>Not a deposit</strong></li> <li><strong>Not FDIC insured</strong></li> <li><strong>Not insured by any federal government agency</strong></li> <li><strong>No bank guarantee</strong></li> <li><strong>May lose value.'</strong></li> </ul> <h2>On screen:</h2> <p>A desktop image of bridge appears beneath a Chase login window. Instructional text above the laptop reads:</p> <h2>On screen:</h2> <p>'Sign in to your account on a computer.'</p> <h2>On screen:</h2> <p>A desktop image of bridge appears beneath a Chase login window. Instructional text above the laptop reads: '</p> <h2>On screen:</h2> <p>'Sign in' to your Chase account.'</p> <h2>On screen:</h2> <p>A circular green cursor clicks into the fields, typing in 'username123' and an encrypted password. It clicks 'Sign in,' and a dashboard appears.</p> <h2>Note:</h2> <p>A note reads:</p> <h2>On screen:</h2> <p>'The images presented are for illustrative purposes only and do not represent an actual client account.'</p> <h2>Note:</h2> <p>Normal text reads:</p> <h2>On screen:</h2> <p>Instructions continue: 'Choose 'Pay &amp; Transfer,' then 'Transfer money.''</p> <h2>On screen:</h2> <p>The cursor finds the 'Pay &amp; transfer' tab in a menu along the top of the screen, and chooses 'Transfer money' from the resulting drop-down. A dropdown field on the upper left side of the screen is highlighted as text continues:</p> <h2>On screen:</h2> <p>'Choose the retirement account from which you want to take your distribution.'</p> <h2>On screen:</h2> <p>The cursor chooses an account called 'Self-Directed,' and instructions continue:</p> <h2>On screen:</h2> <p>'Choose the account where you want your distribution to go. You can add an external account by clicking the 'Add an external checking or savings account' link.'</p> <h2>On screen:</h2> <p>The screen highlights text under the 'Transfer to' dropdown that reads: 'Don't see your account?' alongside the link.  The cursor chooses a Premier Plus checking account, and instructions continue:</p> <h2>On screen:</h2> <p>'Choose a Distribution reason.'</p> <h2>On screen:</h2> <p>The screen highlights the dropdown on the left side, about halfway down the screen. The cursor clicks the menu and text continues:</p> <h2>On screen:</h2> <p>'The reasons displayed will vary by age.'</p> <h2>On screen:</h2> <p>The cursor clicks 'Normal Distribution (age 59 and a half or older).' A dropdown about halfway down in the center of the screen is highlighted, and instructions continue:</p> <h2>On screen:</h2> <p>'You can future-date your distribution by selecting a new 'Send on' date.' Text continues: 'Depending on your distribution reason, you can toggle to 'Set up repeating transfers.'</p> <h2>On screen:</h2> <p>The toggle switch is highlighted on the lower left hand side.</p> <h2>On screen:</h2> <p>Instructions continue: 'Review your selections and if everything looks good, choose 'Next.''</p> <h2>On screen:</h2> <p>The cursor scrolls down and hits 'Next,' which generates an information box.</p> <h2>On screen:</h2> <p>Instructions say: 'Read about tax withholding elections, then check the box to acknowledge that you understand. Choose 'Next.''</p> <h2>On screen:</h2> <p>The cursor scrolls past the information, checks the box, and hits 'Next.' A notice is highlighted at the top of the screen, and text continues:</p> <h2>On screen:</h2> <p>'Here, you'll find information about tax withholding implications of IRA distributions. Enter a gross distribution amount, from which any tax withholding amounts will be deducted.'</p> <h2>On screen:</h2> <p>An empty field is highlighted, and the cursor enters $1,000. Instructions continue as the next field down is highlighted:</p> <h2>On screen:</h2> <p>'Enter the 'Federal tax withholding rate' using a whole number. This is the percentage that will be taken from your gross distribution. If you don't want federal taxes withheld, enter zero (0). This field cannot be left blank.'</p> <h2>On screen:</h2> <p>The cursor enters 15%. Instructions continue as the next box is highlighted: 'Choose an option for state tax withholding.'</p> <h2>On screen:</h2> <p>A note reads: 'Pro tip: Please consult with your legal or tax professional for more information.' Text continues: 'Your dropdown may default to a mandated option because tax withholding rules vary by state.'</p> <h2>On screen:</h2> <p>The cursor chooses, 'Yes, I elect to withhold state taxes.'</p> <h2>On screen:</h2> <p>More text reads: 'Depending on your state's tax withholding rules, the box may display a minimum amount or percentage.'</p> <h2>On screen:</h2> <p>The screen highlights the field as the cursor keeps the auto-generated minimum of $5.00.</p> <h2>On screen:</h2> <p>Instructions say, 'You can adjust this amount to be above the minimum.'</p> <h2>On screen:</h2> <p>Text reads, 'Choose 'Next,'' and the cursor clicks. A review page appears with a heading: 'Does everything look OK?'</p> <h2>On screen:</h2> <p>Text instructs: 'Review your distribution information.'</p> <h2>On screen:</h2> <p>The cursor scrolls down, and instructions continue:</p> <h2>On screen:</h2> <p>'Check the box to agree to the terms and conditions, then choose 'Authorize distribution.''</p> <h2>On screen:</h2> <p>The cursor checks the box and authorizes the distribution. Text over the resulting confirmation screen reads:</p> <h2>On screen:</h2> <p>'Your distribution is scheduled! You can schedule another distribution or choose 'Close.''</p> <h2>On screen:</h2> <p>The cursor scrolls down to where the two options are highlighted side-by-side. It hits 'Close,' on the left.</p> <h2>On screen:</h2> <p>'There's so much more you can do! We'll teach you how at <strong>chase.com/HowTo</strong>.'</p> <h2>On screen:</h2> <p>A closing logo appears over white: 'J.P.Morgan, Wealth Management.'</p> <h2>Note:</h2> <p>Legal disclosures:</p> <h2>On screen:</h2> <p>This video is provided for informational purposes only and actual experience may vary. The information contained herein is as of the date of this publication and J.P.Morgan does not undertake any obligation to update such information. This video does not constitute advice by or on behalf of J.P.Morgan, and nothing in this video should be construed as legal, regulatory, tax, accounting, investment or other advice.</p> <p>Chase Mobile (register trademark) app is available for select mobile devices. Enroll in Chase Online (service mark) or on the Chase Mobile (register trademark) app. Message and data rates may apply.</p> <p>Investing involves market risk, including possible loss of principal, and there is no guarantee that investment objectives will be achieved.</p> <p>J.P.Morgan Wealth Management is a business of JPMorgan Chase &amp; Co., which offers investment products and services through <strong>J.P.Morgan Securities LLC</strong> (JPMS), a registered broker-dealer and investment adviser, member FINRA and SIPC. Insurance products are made available through Chase Insurance Agency, Inc (CIA), a licensed insurance agency, doing business as Chase Insurance Agency Services, Inc., in Florida. Certain custody and other services are provided by JPMorgan Chase Bank, N.A. (JPMCB). JPMS, CIA and JPMCB are affiliated companies under the common control of JPMorgan Chase &amp; Co. Products not available in all states.</p> <p>Copyright {{copyrightCurrentYear}} JPMorgan Chase &amp; Co. </p>

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