What Bay Point Does
- In September of each year, requests from your CPA the amount of state and federal withholdings that will be needed from your account.
- Provides CPA with online access to tax-related information about your accounts, such as Realized Gains and Loss Report and Projected Income Report, so they can calculate estimated taxes.
- Sends you a TD Ameritrade distribution form for your signature.
- Submits the distribution form to TD Ameritrade with the required withholding amounts before year-end.
What the CPA Does
- Calculates your estimated taxes or the safe harbor amounts that need to be withheld from your IRA.
- Communicates these amounts to Bay Point.
What You Do
- Sign and return the distribution form to Bay Point.