Accessing Funds: If Participant Has An SDBA
If the participant has a Self-Directed Brokerage Account (SDBA), he or she can request a direct in-kind rollover of the securities held therein (assuming that the securities will be accepted by the receiving broker) by having the receiving broker send an Automated Customer Account Transfer (ACAT) directly to TD Ameritrade. This should be done after the Program has received the participant’s Distribution Request Form. The ACAT will automatically be rejected by TD Ameritrade, due to the fact that the assets are part of a qualified retirement plan and are subject to restrictions on distributions. TD Ameritrade will contact the Program to determine whether the participant is approved for a distribution. If the Program has already received an in-service withdrawal or distribution request, approval will be given to TD Ameritrade. Then, when the receiving broker submits the ACAT a second time, it will be processed.
No withdrawals are allowed directly from an SDBA without first liquidating the assets and transferring the cash to the Program’s investment options.