You may take a distribution as cash or as bitcoin.
To initiate an IRA distribution, you must complete an IRA distribution request form within the Unchained platform. Cash distributions are taken from your IRA cash balance, and you may need to sell bitcoin to increase your cash position. Selling bitcoin will require your keys. In-kind bitcoin distributions also require signatures from your keys.
How to take a cash distribution
- Select the IRA account you want to withdraw from and click the IRA Cash balance button on the top navigation bar.
- Ensure that your intended withdrawal amount is reflected in your cash balance. You can sell bitcoin from your IRA vault to increase your available balance.
- Click Withdraw.
- Choose Distribution and click Continue.
- Complete the IRA distribution request form, choosing the USD distribution type.
- An Unchained IRA associate will email you the corresponding DocuSign for you to sign, along with withdrawal instructions.
How to take an in-kind bitcoin distribution
- Select the IRA account you want to withdraw from and click the IRA Cash balance button on the top navigation bar.
- Click Withdraw.
- Choose Distribution and click Continue.
- Complete the IRA distribution request form, choosing the In-kind (BTC) distribution type.
- An Unchained IRA associate will email you the corresponding DocuSign for you to sign, along with withdrawal instructions.
- Once you’re approved to withdraw, follow our withdrawal instructions within your vault. You’ll be shown a “Paperwork required for withdrawal” warning. As long as you have completed the DocuSign and received clearance from our team, you may continue.
Note: No contents of this post may be relied upon as tax, legal, or financial advice, as they have not been tailored to you and have not been reviewed by any attorney, financial advisor, or tax professional. For any questions related to your own specific situation, please consult with your own attorney, tax professional, and/or licensed financial advisor.