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72T EARLY WITHDRAWL

L1: 72T EARLY WITHDRAWLI started a 72t when i retired 2 yrs ago to avoid the 10pct early withdraw penalty on my 401k pgm. im currently 54yrs old currently. i recently married, ,my husband retrired at age 50 and subsequently had heart problems that makes him clinically disabled also, this qualified him to tap into his 401k before age 59 1/2 without the early withdrawl penalty, which he did. iwould like to know if being recently married, and having increased financial need for his and mine medical needs, would i also qualify to take more out of my 72t and can i take a early withdrawl now without the 10pct early withdrawl penalty. im currently 54yo. thanks for the help. no one, including my investers, seems to know much about this subject…..2010-01-24 09:42, By: MIKE, IP: [75.199.8.90]
L2: 72T EARLY WITHDRAWLUnfortunately, no. Once started, the only real exceptions – without busing the plan – are your death or your disability. While there is also an exception for certain medical expenses, make sure that you read the article on this website BENZ v. Internal Revenue Service. If you use the medical exception in addition to the SEPP exception, you could possiblebecome thenext IRS test case.2010-01-24 10:48, By: Gfw, IP: [216.80.125.206]

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