Nationwide's Online Withdrawals Service
Whether changing jobs, living in retirement or experiencing a life changing event, your participants will have:
- Easy self-service options to apply for withdrawals online, with proactive status alerts keeping participants informed throughout the process
- Fast execution (no more paper!), with us guiding participants through a personalized and interactive experience so they can quickly elect withdrawal options to best suit their needs
- Convenient access, allowing participants to initiate withdrawals 24/7
- For Plan Sponsors who have opted into the CARES Act provision to allow participants to take coronavirus-related distributions (CRDs): The feature will enable participants to initiate the request for CRDs starting Monday, May 11th. If you wish to opt into the CARES Act provision, please complete our CARES Act opt-in form.
The process is faster than viewing this short video
Watch this video to learn the benefits of this new service as well as how easy it is to request a withdrawal online:
Fraud prevention steps
Nationwide makes it a priority to ensure that participant account withdrawals are protected through anti-fraud controls such as:
- Multifactor authentication (MFA)
- Enhanced web profile registration requirements
- Validations of demographic and/or automated-clearinghouse changes
For additional information about Online Withdrawals, contact your Nationwide Plan representative.