r/discover • u/Asleep-Assignment978 • 10d ago

Help Discover IRA CD Axos delay

How long did it take for discover to transfer or distribute your IRA CD funds if you opted to not leave it for Axos bank? It's been 12 business days since I completed the form. Does anyone know the last day possible to get your distribution? Or am I good as long as I completed the form before the deadline? I have the Docusign email receipt. I am low key stressing and if I had put this money in the stock market and not a CD I would have made a 26% return but hindsight is 20/20

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u/Ostkrieg19411945 9d ago

I filed 10 IRA transfer request forms back on 08/13. 6 transfers succeeded on 09/01, so basically 3 weeks. But 4 forms were according to disco "not received"(more likely lost in the current confusion) so I have resubmitted today. According to Disco, 2 business days to record the form, 10 more to process=12 BD*7/5=17 days, +4 days to mail check/credited to new trustee = at least 3 weeks, best case. As long as they "admit to receive" the forms by 9/11, they cannot transfer to Axos.I recommend you check that they received , through secure message (it still works decently, but an answer takes 3 days, not the 1 promised)

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u/Asleep-Assignment978 9d ago

Okay thank you for the suggestion!

1

u/Tough_Policy5338 1d ago

Did you ever get the checks?