Yes. IRA investors may take Required Minimum Distributions (RMDs) from their Lending Club IRA.* Please keep in mind, however, that the investor is responsible for making sure they have cash available for withdrawal. For Automated Investing users, this will require setting a cash reserve to allow cash to build up in their account.
To request an RMD, please contact Investor Services at firstname.lastname@example.org.
Lending Club does not provide tax advice and this information is not intended to be investment or tax advice. Consult a tax advisor or IRS guidelines if you have any questions and to determine any potential tax implications before taking a distribution from your IRA.
* Lending Club’s preferred IRA custodian is Self Directed IRA Services, Inc. (SDIRA), a subsidiary of Horizon Bank.