Can I setup a SEPP after a IRA has been established for 3 years

L1: Can I setup a SEPP after a IRA has been established for 3 years08-01-67 looking to setup IRA 03-01-17 but don’t need distribution until 3 years from now so can I set up a SEPP on an IRA formed 3 years earlier.2016-11-27 05:00, By: Deer in headlights, IP: [50.110.90.220]
L2: Can I setup a SEPP after a IRA has been established for 3 yearsThere is no time frame. You can set up a SEPP 72-T with any IRA regardless how long the IRA has existed, i.e. started 20 years ago, or the day after you set it up (such as with a 401-K rollover).
Often an existing IRA is split into 2 or more accounts, using one with only enough to fund the amount needed in annual distributions, and keeping the other account(s) for future additional SEPP 72-T funding, or for possible future emergency distributions that might be subject to the 10% penalty, or might be eligble for one or more of the other exceptions to the 10% early distribution penalty.2016-11-27 06:13, By: dlzallestaxes, IP: [173.59.24.3]