Using Your IRA Account

How do I make a contribution to my IRA Plan?

You can make a contribution to your IRA Plan online or by mail.

To make a contribution online:

1. Sign in to ingdirect.com with your Customer Number or Saver ID and PIN
2. Click on your IRA Plan
3. Select the 'Make an IRA Contribution' icon

To make a contribution by mail:

1. Sign in to ingdirect.com with your Customer Number or Saver ID and PIN
2. Click on your IRA Plan
3. Select the 'Plan Maintenance and Forms' icon
4. Click on the IRA Deposit form
5. Print, complete and return the form, along with the contribution check, mailing it to:
   
   

   	ING DIRECT IRA Servicing P.O. Box 60 St. Cloud, MN 56302

Keep in mind, when making a contribution the funds will be deposited into the IRA Savings Account under your IRA Plan. Once those funds are deposited, you can fund an IRA CD under the particular plan. If you have any questions about IRA forms, please email us at ira@ingdirect.com. You can also give us a call at 1-877-955-8700, from 8 AM to 9 PM ET, Monday through Friday.

What is an Automatic Contribution Plan?

An Automatic Contribution Plan allows you to maximize your savings by having a fixed amount of money regularly transferred from your linked checking account to your ING DIRECT IRA. You can even set up automatic transfers from your Electric Orange or your Orange Savings Account. Set yours up anytime by signing into ingdirect.com.  To ensure that all contributions are completed by the annual contribution deadline, no contributions for the previous tax year can be scheduled after April 12th.

How do I create, edit or cancel an Automatic Contribution Plan?

To set up an Automatic Contribution Plan:

1. Sign in to ingdirect.com with your Customer Number or Saver ID and PIN
2. Click on your 'IRA Plan'
3. Click on the ‘Make a Contribution’ icon
4. Choose the tax year (if necessary), select the option to either contribute a specific recurring amount or make recurring contributions that total your remaining annual contribution limit, how often you want to contribute, and the start date

To edit an Automatic Contribution Plan, you must first cancel your current plan and then set up a new one:

1. Sign in to ingdirect.com with your Customer Number or Saver ID and PIN
2. Click on your 'IRA Plan'
3. Click on your 'IRA Savings Account'
4. Click the 'Delete' button next to the plan you want to cancel in the ‘Scheduled Transactions’ section
5. Set up a new Automatic Contribution Plan by clicking the ‘Return to Plan Summary’ icon and then clicking ‘Make a Contribution’

To cancel an Automatic Contribution Plan:

1. Sign in to ingdirect.com with your Customer Number or Saver ID and PIN
2. Click on your 'IRA Plan'
3. Click on your 'IRA Savings Account'
4. Click the 'Delete' button next to the plan you want to cancel in the ‘Scheduled Transactions’ section

Please Note: If you cancel an Automatic Contribution Plan, ALL future occurrences of the transaction will be deleted. Be sure to make your cancel request 24 hours before the planned transfer.

How can I make a withdrawal from my ING DIRECT IRA Plan?

Distributions (also known as withdrawals) are made online.

1. Sign in to ingdirect.com with your Customer Number or Saver ID and PIN
2. Click on your IRA Plan
3. Select the 'Take an IRA Distribution' icon
4. You can move the funds to your Orange Savings Account, Electric Orange or your linked checking account

If you need to take a withdrawal from your IRA CD, use the Account Maintenance section of your IRA CD to close your IRA CD into your IRA Savings Account (regular penalties for early CD closure apply). Then, use the steps above to complete your distribution online.

If you have any questions about IRA distributions, please email us at ira@ingdirect.com.

How can I change beneficiaries?

To change the beneficiaries of your IRA:

1. Sign in to ingdirect.com with your Customer Number or Saver ID and PIN
2. Click on your IRA Plan
3. Select the 'Plan Maintenance and Forms' icon
4. Click on the 'Beneficiaries' link
5. Make your changes and click 'Continue'

Will ING DIRECT remind me of the maturity date on my IRA CD?

Yes. We'll send you a notice about 35 days prior to maturity, including information on renewal and the current renewal rate. As the owner of the IRA CD, you must provide instructions to either transfer the maturity value to your IRA Savings Account, or to renew the IRA CD at the current rate. To do so, sign in to ingdirect.com with your Customer Number or Saver ID and PIN, click on your IRA CD, then select 'Account Maintenance'. If you do not provide us with instructions, the IRA CD (including accrued interest) will automatically be renewed at the current rate.

Upon maturity of my IRA CD, can I choose to have my money sent to my externally linked checking account?

No. If you decide to close your IRA CD, you must transfer the funds to your IRA Savings Account. Once the funds are in your IRA Savings Account, you can then withdraw your funds by taking a disbursement. Please check with your tax advisor to figure out if you're eligible to take a tax-free and/or penalty-free disbursement.

What if I provide ING DIRECT with maturity instructions after the IRA CD maturity date?

Your IRA CD (including accrued interest) will automatically renew at the current rate on the maturity date; however, you may still redeem your CD, or change the amount or term within 10 calendar days from the maturity date without penalty. Please give us a call if you need to make changes to your IRA CD while in its 10-day grace period. We're here from 8 AM to 9 PM ET, Monday through Friday.

Can I add funds to my IRA CD once it has been opened?

No. While you can't add money to an existing IRA CD, you can open additional IRA CDs at any time. You also have the opportunity to add money to your IRA CD (if you choose) when you renew it at maturity.

Can I receive interest disbursements from my IRA CD?

Yes. You can choose to receive interest disbursements from your IRA CD on a monthly or yearly basis (on the anniversary date of the account opening) to your IRA Savings Account. Please keep in mind, you can decide to add or opt out of interest disbursements feature during the first 20 days of opening your IRA CD.

If I have questions, how can I contact you?

If you have any questions, please email us at ira@ingdirect.com, or give us a call at 1-877-955-8700, from 8 AM to 9 PM ET, Monday through Friday.