72T vs Commercial Annuities

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L1: 72T vs Commercial AnnuitiesHello
Section 72(q) (Annuity Contracts) and 72(t) (Retirement Plans), seem to say the same thing regarding an exception to the 10% early withdrawal penalty…that is….as long as the withdrawals are Substantially Equal…(etc)…and last at least the later of 5 years or until the individual has attained age 59.5. However, the new Revenue Ruling 2002-62 seems to speak only in regards to the provisions of 72(t). Does this mean commercial annuities as described under 72(q) do not benefit from this new RR 2002-62 provision?
Thanks 2002-10-15 19:46, By: BruceM, IP: [127.0.0.1]

L2: 72T vs Commercial AnnuitiesI don’t really feel that anyone really benefited from 2002-62.

However, you are probably right in saying that 72(q) isn’t impacted by the new Rev. Rul. -non-qualified annuities will be probably be subject to IRS Notice 89-25.

You may alsowant to trackthe articles section for un-answered questions.2002-10-15 20:08, By: Gfw, IP: [127.0.0.1]