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Q. Once started, can I change the payment? 

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Last Updated On
ByTracy

A. Revenue Ruling 2002-62, 2.03(b) allows a one time change to the Minimum Distribution method if the current plan was based on either the Amortization or Annuitization methods. Other than the change above, once you begin withdrawing assets using SEPP, no modifications or changes are allowed. If you make changes, you will “bust” your plan and you will face retroactive penalties plus interest. See FAQ30 for more details on penalties and interest.

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