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Account Balance

L1: Account Balance Conventional wisdom was that the account balance could either be the balance on Dec.31 of the year before 72t withdrawals begin ora date between Jan 1 of the year of the withdrawals and the date the withdrawals started.
I plan on starting monthly withdrawals starting Jan. 12, 2004. The holder of my account requires that the paperwork be processed before Dec. 24. What with the Christmas mails and the fact that I live in Europe I plan on submitting the paperwork early in December ( as soon as I learn the Dec.AFRS).
The FAQs regarding Revenue Ruling 2002-62 on the IRS site says ” The account balance may be determined in any reasonable manner that is used consistently.”
I plan on tracking the balance for the 30 days previous to my submitting the form and using the date with the highest balance within that period for my calculations.I have Internet access to the account and can print it out for my record.
Does anyone think that this might not be acceptable?2003-11-14 11:04, By: M&G, IP: [127.0.0.1]

L2: Account BalanceI think that is fine.
TheBadger
wjstecker@wispertel.net
2003-11-14 11:42, By: TheBadger, IP: [127.0.0.1]

L2: Account BalanceI started a SEPP this month(Dec) and after receiving my first check I realized that Fidelitydid not use thebeginning balance in my IRA that would give me the maximum amount allowed. They said they could cancel the first SEPP and start over in Jan using the correct beginning balance. Am I correct in assuming that I will have to pay an early withdrawal penalty on the first payment?2003-12-02 07:05, By: HC, IP: [127.0.0.1]

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