How Can We Help?
< Back
You are here:
Print

Early IRA distribution

Posted
Last Updated On
BySteve B.

L1: Early IRA distributionAt age 53 (Oct. 1996) I started taking equal payments from my IRA. Inmid-March 2003 I turn 59 1/2. What do I do between Jan. 1, 2003 andmid-March 2003? Do I pro-rate my annual distribution from Jan.1 toMid-March 2003 and then start my regular distribution? Am I required totake my equal payment for all of 2003 and cannot start unrestrictedwithdrawals until Jan. 1, 2004? Can I start taking unrestrictedwithdrawals Jan.1, 2003? Do I not take any withdrawals between Jan. 1,2003 and mid-March 2003 and then start unrestricted withdrawals?Thanks for any help.Steve2002-03-19 14:38, By: Steve B., IP: [127.0.0.1]
L2: RE: Early IRA distributionBased on your message, I’m assuming that your plan calls for annual payments in which case you would take the scheduled annual payment in 01/2003 – you may want to consult your tax advisor – this isn’t the time to make any mistakes.2002-03-20 08:17, By: Gfw, IP: [127.0.0.1]

Table of Contents