annual payment

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L1: annual paymentI am getting ready to start a 72t in July.I believe I can take the annual payment in July for the full year.My questionconcerns my annual payment for 2009.Do I have to wait till July of 2009 to recieve it or do I recieve it in January?Which brings me to another question.If I am allowed to recieve my annual payment in January,what would happen in 2013 when my 72t ends?would I still get the annual amount for the full year?

2008-06-12 19:19, By: obewan, IP: []

L2: annual paymentThis identical question is asked every week, and the answers are always the same.
In the first calendar year, you can take EITHER the prorata portion of the calculated annual distribution, or 100% of the annual contribution. Every calendar year thereafter you can take your annual distribution at any time and in any frequency so long as the total for the calendar year exactly equals the annual amount. However, in the 5th year, or 59 1/2 year, you can do thereverseof the first year — i.e. the remainder of the prorata annual amount, -0-, or even 100% of the annual amount. BUT, do not take any more than these amounts until after the 5 th anniversary of your 1st distribution date, plus a few days for safety.2008-06-13 06:55, By: dlzallestaxes, IP: []