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IRA Withholdings

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.

Working Together