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72t and rmd

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ByJD

L1: 72t and rmdStarted 72t 10 yrs ago and switched to the rmd method few yrs back when IRS allowed it. Will be 59.5 on 3-17-2010 and rmd amount I need to take in 2010 is $3,901 based on 2009 yr end value.Am I correct in thinking that I need to take the $3,901 before 3-17-10;alsoand that after 3-17-10, I can withdraw any amount from the IRA so I’d gettwo 1099’s for 2010, one coded for 72t 0n the $3,901 and the other coded normal for any amount taken after 3-17-10? Or is it the case that theONLY funds I can take for the entire year of 2010 are the $3,901 rmd amount? Thanks2010-02-05 22:04, By: jd, IP: [24.182.67.242]
L2: 72t and rmdSince you have already met the 5 year rule, all you have to worry about is the age 59.5 rule. You have a few options: 1) You could take the $3,901; or 2) you could take nothing until after you reach age 59.5.Afterage 59.5 (the SEPP ends at age59.5) you can take any amount you want until you run into the Minimum distribution rules at age 70.5.2010-02-05 23:02, By: Gfw, IP: [216.80.125.206]

L3: 72t and rmdFrom your repaonse, I see that after 59.5 I can take any amount I want; however, I thought that I had to takethe RMD72t amount of $3,901 in 2010 before 59.5 just as I would have to take 3 monthly payments in 2010 for 1,2, and 3of 2010 if I was using the annuitization method. Am I to understand that no rmd 72t withdrawal is required in the year in which I turn 59.5, assuming I met the 5 yr rule in a year before the year I turned 59.5.On the other hand, if my 5 years was not up until sometime during 2010, would I then have to take the $3,901?thank you so much for yor answer and this site2010-02-06 19:37, By: jd, IP: [24.182.67.242]

L4: 72t and rmdThere is nothing that states when in the year a distribution must occur. Just as it could occur in January, it could also occur at the end of December. As the 5-year requirement has been more than met, the plan ends at your age 59.5. Yoe, my answer would have been different had the 5-year rule not been met.2010-02-06 19:44, By: Gfw, IP: [216.80.125.206]

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