JPMorgan Chase review: IRA payment not receive

January 30th 2026

I was attempting to initiate a yearly distribution from my IRA with J.P. Morgan Investments, which is required by the government, when over 70 years of age. On January 19th, I mailed the required J.P. Morgan form, FRM-IRADIST0623 to them with the requested void check from my bank showing the banks routing number and the account to which the funds requested should be wire transferred to.

They processed my request, the week of 1/19/26, which was supposed to take equal amounts from my two existing accounts and on the evening of 1/27/26 exactly one-half of the requested amount for distribution was deposited in my checking account. It showed “External Deposit – US Treasury Investment”?

I’ve been doing this process with J.P. Morgan for 8 years prior, and I’ve always got ONE wire transfer in the total amount requested. WTF would they now break up the transfer into two equal amounts and only Wire Transfer one half?

I called them the afternoon of 1/27 and asked them where the other half was. They advised me to “wait a couple of days” for the rest to show up. This made NO F’n sense to me. I called again, on 1/29 after checking my Bank Account to make sure it hadn’t come in. Again, I talked to a J.P. Morgan rep and told him he needed to take a closer look into where my money was. He put me on hold and came back in a couple of minutes and informed me that it looked like they’d put the money into some ‘Hockey Puck’ process known as ACH AND IT WAS SENT TO AN OLD WELLS FARGO ACCOUNT THAT I HAD CLOSED 4 YEARS AGO. Wells Fargo, of course rejected the attempted deposit and sent it back to the “ACH”. He told me they were in the process of issuing a CHECK and MAILING it to me! 🤬. WTF is wrong with these people, they won’t even take a request for distribution of funds until you provide them with what is known as a “MEDALLION GUARANTEE” certification stamp on the account they’ll be wire transferring to and also a Voided Check for the account they’ll transfer to. I TOLD THEM MAILING A CHECK TO ME IS OUT OF THE QUESTION BECAUSE I DON’T TRUST THE F’n POST OFFICE. He said please hold and let him see if he could intercept the “MAILING” and put it back into the “ACH” process with the correct bank. He said it would add another week before the funds would hit my account? NEEDLESS TO SAY, I AM PISSED!

The correct and customer focused response would have been to spool that money up immediately in a wire transfer it to my correct bank! Just thought I’d relay the Cluster F&@K that J.P. Morgan investments processes seem to be!