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Account # 3. DIRECT TRANSFER Send this payment directly to the receiving institution named above. FEDERAL WITHHOLDING ELECTION - Complete an IRA State Income Tax Withholding Election (Form 2312) if applicable. If you elected option 1 (Lump Sum) or option 4 (Periodic Payments) you must make a withholding election. Check only one. 1. Withhold 10% federal income tax from my payment(s). 3. Withhold % federal income tax from m.

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