Annual SEPP distribution date
L1: Annual SEPP distribution dateMy wife’s existing SEPP distribution date is May 9th and I understood that the distribution had to be on the “same date” each year. Her SEPP started on 5/9/2014. Her DOB is 2/15/1957. This year May 9th is on a Saturday. Should she receive the distribution on Friday May 8th or on Monday May 11th? I don’t l want make a mistake and “break” the plan.
Thx again2015-05-04 18:47, By: Daringdoc, IP: [184.108.40.206]
L2: Annual SEPP distribution dateDaringdoc… the distribution can be taken any time during the year and at whatever frequency she desires. There is no rule that it must be taken on the same day – just between 1/1 and 12/312015-05-04 19:26, By: Gfw, IP: [220.127.116.11]
L3: Annual SEPP distribution dateHola…………..
Thx for the responses. I must have extrapolated from my understanding of the rules for 72t’s that the rules are so “strict” that “everything” must be exactly the same every year.
Thx again for the help………this gives me more flexibility.
2015-05-05 17:28, By: Daringdoc, IP: [18.104.22.168]
L2: Annual SEPP distribution dateWhere did you get “your understanding” that the distributions had to be on the same date — from your research, or from a misguided un-informed financial advisor ?2015-05-05 00:02, By: dlzallestaxes, IP: [22.214.171.124]
L3: Annual SEPP distribution dateboth of you (dlzallestaxes and Gfw) seemed to tell me the exact opposite.
have the rules changed???
please see my previous log
named: changing annual payment date
date: 2013-09-08 02:54, By: IHF, IP: [126.96.36.199]
dlzallestaxes stated that if I needed to change the date because of money I should get a job
gfw stated “This sounds like another example of trying to plan after the fact”
gfw, you further went on to state in another log
name: payment date too soon
date: 2013-12-05 18:11, By: ihf, IP: [188.8.131.52]
that if I changed the date by even one day, thru no fault of my own:
“I would definately get something in writing from an officer in the bank that outlines why the distribution was made a day early and that the decision was the bank’s decision and not yours”
why is it no problem for this 5 year plan and not mine?
I got “my understanding” from the two logs I mention here2015-05-05 19:29, By: ihf, IP: [184.108.40.206]
L4: Annual SEPP distribution dateYou are trying to take information from different posts and different questions.
I answered the question as posed – since the plan is one year old and they are asking about the second distribution, there is no particular date for a withdrawal except that it must occur between 1/1 and 12/31.
If this was a 5 year plan and this was the 5th year, the payment date becomes very important, but that isn’t what this question dealt with.
2015-05-05 19:36, By: Gfw, IP: [220.127.116.11]