- 1). Contact your brokerage firm or insurance company in charge of your IRA. Request a distribution form from your brokerage. The distribution form directs the financial institution to make distributions to you from your IRA.
- 2). Contact your employer and request a distribution form for your 401k plan and any other company pension to which you are entitled. Your company's human resources department should be able to provide you with the necessary distribution forms.
- 3). Decide how much money you want to receive from your 401k plan and IRA plan on a monthly basis. Write this number down on your distribution form, along with the corresponding account number for your retirement account and turn the forms in to your employer and brokerage firm, respectively.
- 4). Contact your employer or brokerage if you want to take distributions under IRS rule 72(t) if you are under age 59 1/2. You will be required to fill out forms pertaining to 72(t) (or 72(q) for any non-qualified annuities that you have. When you turn these forms in, you will receive your payments. You are not required to pay the 10 percent penalty under IRS rule 72(t) (or 72(q)), but you must continue taking distributions from your retirement account until your age 59 1/2 or for a minimum of 5 years, whichever comes later.
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