changing date of 72t distribution

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L1: changing date of 72t distributionI’ve taken 2 annual 72t distributions in July of each year. I have 3 more to go. Do I have to continue to take them in July each year or can I take them in October? It seems to me as long as I take it within the tax year, I should be able to take it anytime in that year as I’d like… Is that correct?
2012-08-30 15:38, By: sumrob, IP: []

L2: changing date of 72t distributionAfter the first calendar year, the only requirement is that you take the same total annual distribution each calendar year.
You can take unequal distributions during any one, or each, calendar year, and you can take distributions at different frequencies, in different months, and on different days of any period, so long as the annual amount is achieved by your last distribution in each calendar year.2012-08-30 15:53, By: dlzallestaxes, IP: []

L2: changing date of 72t distributionSince you are using a 5-year plan and not an age 59.5 plan, make sure that you fully understand the rules that go with a 5-year plan.
You may also want to use our First Modification Date calculator to determine the exact ending date.
Also remember that during those 5 years you must take no more than and no less than 5 annual payments.2012-08-31 12:56, By: Gfw, IP: []