59.5 this year

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L1: 59.5 this yearI have been drawing down since 2004. I will turn 59.5 in october. My question is can/will my distribution continue as is until I instruct fidelity to do something different?2009-04-23 15:59, By: rich, IP: []
L2: 59.5 this yearI also started my plan in 2004 and will be 59 1/2 october (happy birthday) So I checked this site when i saw your question. I also would like to know what if anything do I need to do,
Am not happy with my custodian and am waiting for my 59 1/2 to change custodian.
Would also like to know what if any are my restrictions for making withdrawals after age 59 1/2 ?2009-04-23 17:43, By: keani4me2000, IP: []

L3: 59.5 this yearIt depends if you started before or after Oct 2004 because you must continue the plan for 5 years ( 60 months), or until 59 1/2 if later. After the 5-year/59 1/2 period is over, the SEPP requirements are also over. You can take any amount after that from -0- to 100% of your plan. At 70 1/2, and not before, you start a requiredMINIMUM distribution.
You can change custodians at any time, but I would wait now until November to minimize any problems.2009-04-23 18:49, By: dlzallestaxes, IP: []

L4: 59.5 this yearI think DLZ meant to say “for at least 60 months, AND ALSO(instead of “OR”) at least until 59 1/2.” In many cases, the recipient who started”late” (like I did at age 56) will have to receive payments until age 61 (much later than age 59 1/2) to meet the 5 year requirement.
In terms of your question- I assume that if you say nothing to Fidelity, they will keep making the regular payments as you had requestedwhen you started the plan, but they could surprise you (probably if your original document had specific last payment date information) and in that case they may stop them after you have met those requirements. I’d contact them to see what they have in their system for payments after you have met the 72t requirements.
Use the “Last Payment Date” calculator on this site to recheck when your plan ends. It requires you to know the date that first payment was issued.
2009-04-23 21:49, By: Ken, IP: []

L5: 59.5 this yearAs usual great input from the forum. I did call Fidelity and according them they will continue to distrubte the same amount even after I complete my SEPP. I also inquired as to why they stopped coding 2 in box 7 on the 1099 form and their responce was “read between the lines”. Luckily my accountant caught it and submitted my return with the correct info. I checked mytax returns from 04-08 and Fidelity always coded 2 in box 7 until 2007. Good Luck all and think positive about the market.2009-04-29 16:39, By: rich, IP: []