72T – Additional Withdrawal and Deposit to 72T IRA

L1: 72T – Additional Withdrawal and Deposit to 72T IRAKen, thanks for the helpful response to my last question.I thought I read somewhere that you are allowedto withdraw additional money in addition to the normal distribution as long as you re-deposited the same amount within 60 (or 90) days…..is that true ?2011-02-28 22:31, By: Jake, IP: [98.225.187.233]
L2: 72T – Additional Withdrawal and Deposit to 72T IRAYou are permitted only one rollover per IRA account per 12 month period. If you have that rollover available to you, you could withdraw an amount that is more than your annual 72t distribution and roll it back within 60 (not 90) days.But then you have exhausted your rollover safety valve for the following 12 months. It is wise to keep the rollover open in the event you need it to correct an unintentional distribution in excess of your annual distribution amount.2011-02-28 23:16, By: Alan S., IP: [24.119.230.17]