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Final Year

Last Post

Posts: 1

clrj

Mar 07, 2020 8:40 am

(@clrj)

Active Member

Joined: 4 weeks ago

Birth date 3/21/1961.

First distribution date 9/8/2015.

Age 59.5 date 9/21/2020.

I took an annual distribution of the same amount in 2015, 2016, 2017, 2018, and 2019. Is it correct that for 2020 I can take a full distribution or no distribution at all? I want to make sure I get this right at the end of my plan. Thank you for the help and for this outstanding site.

1 Reply

Posts: 42

[email protected]

Admin

Mar 07, 2020 8:49 pm

(@dlzallestaxesmsn-com)

Illustrious Member

Joined: 9 months ago

Correct. You can take either the full annual distribution or no distribution before 9/21/2020.

After 9/21/2020, you can take any amount, or no amount, because your SEPP 72-T plan ends when you are 59 1/2 and will have taken 60 months/5 years worth of payments.