AFR Dates

L1: AFR DatesThanks for making this site available for all of us who have questions regarding SEPP. It is so helpful.
I have a few questions:
(1) a) Whatare the dates when the AFR for Nov ’02 and Dec ’02 will be available? b) Where can I find these new AFRs once available?c) When is one required to start using the Nov ’02 AFR in place of the Oct ’02 AFR? d) Is it based on the start date of the SEPP as to whichmonth’s AFRis required to be used?
(2) How would the recalculation of life expectancy apply to method # 3 [ the annuitization method] [per the 72t calculator, it states that it is applicable to methods # 2 and 3]?
Thanks again, Jeff2002-10-15 21:39, By: jeff, IP: [127.0.0.1]

L2: AFR DatesRates are normally published during the last 10 days of the previous month. November’s rates should be out sometime after October 21. December’s rates sometime after November 20.
We publish the rates (look in the left menu for Interest Rates) when they are released. You can also find them at the IRS (www.irs.gov) site.
In the past, the general rule was to use the rate for the month that payments begin. The new Rev.Rul. stateseither of the two months immediately preceding the month in which the distribution begins.
Remember, only after 12/31/2002 is the use of the AFR mandated. For current plans it has just been the generally accepted rate(s) to use.
Recalculation of methods 2 & 3 will no longer be available for SEPP plans that are effective after 12/31/2002 and are funded by tax-qualified funds. It appears that non-tax qualified annuities will continue to be governed by Notice 89-25 and recalculation of these plans will still be available for methods 2 & 3.
Recalculation works the same as with method number 1, except that at the time of recalculation a new AFR based on the recalculation dateis also selected. In my opinion, this would have been a much better solution than the one offered in 2002-62.2002-10-16 04:38, By: Gfw, IP: [127.0.0.1]

L2: AFR DatesThanks Gordon for quick response. I just have several follow-up questions:
For this year, can I also select an AFR from the two previous months?
Also I thought with the annuitization method, one is locked into a fixed $ amount each year for 5 years or until 59 1/2 [which ever is longer]. Please clarify the recalculation as it relates to the annuitization method.
Thanks again, Jeff2002-10-16 19:55, By: jeff , IP: [127.0.0.1]