Walk into your local Wells Fargo branch or call the customer service number located on your IRA statement. Speak with a representative about taking a distribution from your IRA. The representative may refer you to a brokerage representative if your account is with Wells Fargo Investments.
Request the distribution form and fill out your name, address and account information. Include the amount of the distribution and whether it is a one-time withdrawal or systematic distribution happening regularly.
Check any boxes or write any notes as to whether the distribution qualifies for any special exemptions. This applies to distributions taken by IRA owners under the age of 59 1/2 for hardship reasons, college tuition or home purchase. The exemption eliminates the 10 percent tax penalty on the distribution.
Fill out the federal tax withholding section of the form. Those under the age of 59 1/2 will automatically have 20 percent withheld. Those of age will have the option to withhold or not.
Sign and submit the form. Bank distributions may happen immediately, whereas brokerage distributions may take three to five days to liquidate assets and process requests.