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[Sticky] 2020 CARES ACT: NEW STIMULUS BILL DOES NOT APPLY TO SEPP 72-T PLANS
Section 2202 begins:
(1) IN GENERAL.—Section 72(t) of the Internal Revenue Code of 1986 shall not apply to any coronavirus-related distribution.
Please clarify if taking an IRA withdrawal, up to the $100K limit in 2019, per qualifying for a Corona virus exemption, will or will not "BUST" my existing SEPP?....
IT WILL BUST YOUR SEPP IF YOU TAKE "ANY" ADDITIONAL AMOUNT.
That is why I posted the regulation as soon as I read the CARES ACT. It is the first provision in the Retirement Plan section, even before the provisions about Early Distributions or RMD.