The Citibank IRA withdrawal form — officially the Withdrawal and Tax Withholding Election Form — is the document Citibank requires before releasing money from a Traditional IRA, Roth IRA, or SEP-IRA.1Citibank. Withdrawal and Tax Withholding Election Form No signed form, no distribution. Withdrawals over $10,000, and any withdrawal from an account opened in the last 30 days, also need a notarized signature on the form’s notarization page.
Where to Get the Form
The PDF lives on Citibank’s forms page at online.citi.com. You can also pick up a printed copy at any Citibank branch, where a banker can hand you one and answer questions on the spot. If you’d rather not visit, call the retirement service line and ask for a copy by mail or secure message. The packet runs several pages because it bundles the distribution request, the W-4R tax withholding election, and the notarization page together.
What to Have in Front of You
Gather everything before you start writing. A single missing item sends the form back and restarts your timeline.
- Your full legal name and residential address, exactly as they appear on the IRA.
- Your Social Security number. The form includes a certification that you are a U.S. person, and the SSN ties the distribution to your tax records.1Citibank. Withdrawal and Tax Withholding Election Form
- The correct IRA account number. If you have more than one IRA at Citibank, confirm which one you’re pulling from before you write anything down.
- The distribution type: normal, early, required minimum distribution, rollover, or other. The form asks you to pick one, and the choice controls how Citibank codes the transaction for tax reporting.
- Your delivery preference — electronic deposit to a linked Citibank checking or savings account, or a mailed paper check.
- A notary, if your withdrawal is above $10,000 or the account is less than 30 days old.1Citibank. Withdrawal and Tax Withholding Election Form
Filling Out the Form
Plan Owner Information
Enter your first name, middle initial, last name, residential address, and Social Security number. This block is what Citibank uses to link the withdrawal to the correct 1099-R the IRS receives at year-end.2Citibank. Traditional IRA Plan Documents
Distribution Details
Select the type of withdrawal. The most common choices:
- Normal distribution: you are 59½ or older, and no early-withdrawal penalty applies.
- Early distribution: you are under 59½. Unless an exception applies, the IRS adds a 10% additional tax on top of regular income tax.3Internal Revenue Service. Retirement Topics – Exceptions to Tax on Early Distributions
- Required minimum distribution: you have reached age 73 and must take your annual withdrawal.4Internal Revenue Service. Retirement Topics – Required Minimum Distributions (RMDs)
- Rollover or transfer: you are moving the money to another retirement account.
Then enter the dollar amount, or mark that you want the full balance. Pick your delivery method on the same page.
Tax Withholding Election (Form W-4R)
The withdrawal form includes IRS Form W-4R, which is where you tell Citibank how much federal income tax to withhold. For a standard IRA distribution — classified as a nonperiodic payment — the default rate is 10%.5Internal Revenue Service. 2026 Form W-4R Skip the W-4R entirely, and Citibank withholds 10% automatically.6Office of the Law Revision Counsel. 26 U.S. Code 3405
You can elect any rate from 0% to 100% by writing it on line 2 of the W-4R. Entering “−0−” means no withholding. Choosing zero doesn’t eliminate your tax bill; it only means you’ll owe the full amount at filing, and possibly an estimated-tax penalty if you haven’t been making quarterly payments.5Internal Revenue Service. 2026 Form W-4R Your election stays in effect for future distributions from the same IRA until you file a new W-4R.
One important exception: for eligible rollover distributions moving money to another employer plan rather than an IRA, the mandatory minimum withholding is 20%, and you cannot elect a lower rate.5Internal Revenue Service. 2026 Form W-4R
State income tax withholding is a separate line. Rules vary — some states require withholding, others let you opt out. If your state has an income tax and you leave this blank, Citibank may apply a default rate. Check your state revenue department for specifics.
Signature, Date, and Notarization
Sign and date every signature field. If your withdrawal is above $10,000 or the account was opened within the last 30 days, complete the notarization page (usually page 6). A notary at most Citibank branches will handle this at no charge, or you can use any licensed notary.1Citibank. Withdrawal and Tax Withholding Election Form
Where to Submit the Completed Form
You have two options:
- In person at a Citibank branch. A staff member can verify your signature and flag any gaps before the form leaves the branch.
- By mail, to Retirement Plan Services, PO Box 790012, St. Louis, MO 63179. Use certified mail or a trackable service so you have proof of delivery.1Citibank. Withdrawal and Tax Withholding Election Form
Citibank’s plan documents note that the bank may require you to resubmit if the form is invalid or incomplete, and that transfer or direct rollover requests must be in writing with any additional forms attached.2Citibank. Traditional IRA Plan Documents An unsigned page, a blank account number, or a missing notarization will bounce the form back.
What Happens After You Submit
Citibank reviews the form and processes the distribution. Electronic deposit into a linked Citibank account arrives faster than a mailed check, which also carries postal delivery time. Track status through the mobile app or online portal.
Early the next year, Citibank sends you IRS Form 1099-R reporting the distribution. The code in Box 7 tells you and the IRS how the withdrawal was classified:7Internal Revenue Service. Instructions for Forms 1099-R and 5498
- Code 1: early distribution, no known exception. You may owe the 10% additional tax.
- Code 2: early distribution where an exception applies.
- Code 3: distribution due to disability.
- Code 4: distribution to a beneficiary after the account holder’s death.
- Code 7: normal distribution to someone 59½ or older.
If Box 7 shows Code 1 but you qualify for an exception, you can claim it on IRS Form 5329 when you file your return.8Internal Revenue Service. Retirement Plans FAQs Regarding IRAs Distributions
If You’re Moving the Money, Not Spending It
The form supports both direct transfers and indirect rollovers, and the choice has tax consequences worth understanding before you check a box.
A direct transfer (trustee-to-trustee) sends the money straight from Citibank to the receiving institution. Nothing is withheld, no 60-day deadline applies, and the IRS doesn’t count it against the one-rollover-per-year limit.9Internal Revenue Service. Rollovers of Retirement Plan and IRA Distributions Citibank requires the transfer request in writing and may require extra forms beyond the standard withdrawal packet.2Citibank. Traditional IRA Plan Documents
An indirect rollover means Citibank pays you, and you have 60 days to redeposit the funds into another eligible retirement account. Miss the window, and the full amount becomes taxable income, plus the 10% early-withdrawal penalty if you’re under 59½.10Office of the Law Revision Counsel. 26 U.S. Code 408 You’re also limited to one indirect IRA-to-IRA rollover in any 12-month period across all of your IRAs combined.9Internal Revenue Service. Rollovers of Retirement Plan and IRA Distributions
Fees to Ask About
The withdrawal form itself doesn’t list fees, and Citibank doesn’t charge a visible per-distribution fee. But Citibank’s wealth management schedule lists a $95 retirement account termination fee, which can apply if you’re closing the IRA entirely rather than taking a partial withdrawal.11Citi.com. CPWM Pricing, Commissions, and Fees If your IRA holds a certificate of deposit that hasn’t matured, Citibank’s CD early-withdrawal penalty applies on top of any IRS tax. Ask a representative to confirm applicable fees before you send the form in.