72t Required Min Distribution Method rules and IRS filings

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L1: 72t Required Min Distribution Method rules and IRS filingsI will be 51 and plan to start early withdraws from a rollover IRA in January, 2017 using the Required Minimum Distribution Method. How and when do I indicate the method used and the resulting amount to the IRS? Is this done when filing form 5329 with my taxes? Second, may I take more than the minimum required amount? I cannot find any written guidance to the second question on the IRS website. My minimum calculated is $7,128 but, I have over $19,000 in dividends a year. I would like to withdraw the dividends rather than reinvest them. Is there a maximum I can withdraw based on the method used to calculate my SEPP?2016-12-30 19:43, By: PalmCoast, IP: [97.101.6.95]
L2: 72t Required Min Distribution Method rules and IRS filings>>may I take more than the minimum required amountNo. Regardless of the method used, you can take no more than or less than the calculated annual amount. A $1 variation would be OK, but not anything more (or less).
You will only have to indicate the method if you get audited. If you want to take more than the amount used in the minimum distribution method, consider the amortization method and single life expectancy. 2016-12-30 20:24, By: Gfw, IP: [216.80.120.234]

L3: 72t Required Min Distribution Method rules and IRS filingsIf you had planned sooner, or don’t have a 2016 tax issue, you could start it today, and take the full annual distribution for 2016 today.
More practically, you might consider setting up more than 1 IRA account, and take money from more than 1 account which you start in future years.
If you are looking to withdraw all of your annual income, forget it. You are too young.2016-12-30 20:44, By: dlzallestaxes, IP: [173.59.24.3]