72T in AUGUST-2011

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L1: 72T in AUGUST-2011
Question for the Professionals
I have applied and completing paperwork for a August-2011 start up of 72t with June-2011 rate of 2.73%. My question is this if all paperwork is complete for a August-2011 startup and the money isnt deposited until early September-2011 would there be a problem
with that. I do not want to have to use the July-2011 rate of 2.40% if I dont have to. Does the money have to be in my hands by August 31-2011 is my question. Thanks for your help.
Frankiez
2011-08-31 00:14, By: frankiez, IP: [173.114.128.22]

L2: 72T in AUGUST-2011
The date for determining the interest rate is the date of the first distribution. When the paperwork is complete makes no difference. The first distribution must occur tomorrow to save the 2.73% interest rate.
2011-08-31 00:21, By: Gfw, IP: [205.178.73.77]

L3: 72T in AUGUST-2011
Thanks Gfw really appreciate it
2011-08-31 00:25, By: frankiez, IP: [173.114.128.22]

L4: 72T in AUGUST-2011
Note that the distribution does not have to be in your hands, as long as the activity records of the IRA shows the distribution was processed. Perhaps that is why the distribution date is the determining factor, ie. there is
a documented record of it while the date you actually receive funds is normally not well documented. You still are working on thin ice when you do not know exactly when the custodian will issue that distribution, but now you at least know what assurances to
ask for……..
2011-08-31 00:39, By: Alan S., IP: [67.61.144.221]

L5: 72T in AUGUST-2011
So Alan what you are saying is as long as my account(IRA) shows the deduction in August-2011 then everything should be fine even if the check does not show up in my checking account until September 3 or so.
Thanks
2011-08-31 01:38, By: frankiez, IP: [108.96.130.248]