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Bad Financial Advice
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Custodians
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FAQs
COMPREHENSIVE ARTICLE EXPLAINING SEPP 72-T
Q. Are the online SEPP calculators accurate?
Q. Are there any IRS filing requirements?
Q. Assuming the 5-Year rule, when can payments be modified?
Q. Can a Cost of Living Adjustment (COLA) be included?
Q. Can a portion of an IRA account be excluded from the calculations?
Q. Can distributions be made monthly?
Q. Can I recalculate my Life Expectancy using the Amortization or Annuity Methods?
Q. Can I vary the plan payments by my account balance?
Q. Do all IRA accounts have to be combined to determine the amount of the distribution?
Q. Does anyone know of any actual cases where someone accidentally broke their 72t and were caught by the IRS? What were the actual penalty percentages? Do they ever give someone a break and let them fix it if possible? Do they ever waive the penalties and interest? If someone was taking 72t withdrawals for 7 years and then switched to the MD method and calculated wrong and withdrew $100 too much would the IRS actually charge $100,000 if that was what the interest and penalties would come to?
Q. How are my non-deductible contributions treated?
Q. How do I report a broken SEPP?
Q. How is my age calculated?
Q. I have a SEPP and have been re-employed and have earned income. Can I make a contribution to an IRA?
Q. I have a SEPP that used one of my two IRA accounts, can I set up a second SEPP with the other account?
Q. If I get divorced and transfer a portion of the payments to my ex-spouse, will I loose the exemption from the 10% penalty tax?
Q. If I include more than one account, which accounts do I use to make the payments?
Q. If the 10% penalty is $2,000, can your tax be lower than $2,000 if you had enough deductions??
Q. Is tax withholding mandatory?
Q. Once started, can I change the payment?
Q. Once started, how long must I continue the plan?
Q. What about IRC Section 72(q) for Non-Qualified Tax-Deferred Annuities?
Q. What account balance should be used?
Q. What documentation should be maintained for a SEPP plan?
Q. What exactly is the "federal mid-term rate" Can you tell me where this interest rate comes from?
Q. What if I die or become disabled?
Q. What if I run out of money?
Q. What is a Private Letter Ruling?
Q. What is the Age 55 Exception to the 10% penalty?
Q. What is the Definition of Disability for 72(t)??
Q. What is the maximum interest rate that can be used?
Q. Which Mortality Tables can be used?
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General Information
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General Information2
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Investing Decisions
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Reinvested Dividends
Resources
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Account Changes
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Annual Recalculation
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Contributions and SEPP
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Death and SEPP
Divorce
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Multiple Plans
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Plan Changes
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Rollovers
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401k Accounts
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403b Plans
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