Change to beginning balance for SEPP withdrawals

L1: Change to beginning balance for SEPP withdrawalsI began monthly SEPP withdrawals in January. I valued my IRA as of January 9th for the calculation. In February, the custodian adjusted my account balance down by a little over $1000 to correct an error they had made when rolling my 401k into the account on January 6th. They backdated the adjustment transaction to January 6th. Bottom line is that the amount I used on Jan 9th to calculate my withdrawal was overstated by about $1000. I have documentation showing the account balance I used on the 9th, even though it turns out now it was overstated. Does this error by the custodian ‘break’ by SEPP, or do I need to modify my plan?2006-03-06 10:49, By: Mike, IP: [71.111.172.133]
L2: Change to beginning balance for SEPP withdrawalsIf it were me, I would keep good documentation as to the error and recalculate the payment based on what the actual balance was.
If you are taking monthly amounts, merely adjust the future payments to make the annual total right. If you took an annual payment, you still have a few days to implement the 60-day rollover.
Talk to the Trustee/Custodian and get their response (in writing) as to how they want you to correct the problem. 2006-03-06 13:35, By: Gfw, IP: [172.16.1.73]