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Switching from Amortization to RMD Question
I am currently in year 3 of my SEPP plan and have used the Amortization method, single life table to date. I would like to perform the permissible one time switch to the RMD method for the duration of my plan. Can I also switch from using the single life to the uniform life table when making the switch?
Nitrolord, you can use any of the mortality 3 tables to calculate your distributions under the Minimum Distribution Method. Refer to Revenue Ruling 2002-62 ( https://www.irs.gov/pub/irs-irbs/irb02-42.pdf ). There are also several posts under Q&A if you want further confirmation.
I understand your concern. The wording you mentioned above is referring to the annual recalculation you will have to perform each year, not the initial RMD distribution calculation. For further confirmation you can: 1) read through all 72t-related IRS Resources ( https://72tnet.com/irs-resources/ ), 2) Review Private Letter Rulings and search through Legalbitstream ( https://72tnet.com/private-letter-rulings/ ) and 3) Search in the Q&As ( https://72tnet.com/knowledge-base/ ) for "one time change uniform" and read through the past posts.