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End of Sepp

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Last Updated On
ByED

L1: End of SeppStarted Sepp in 2001 and will be 59 in August, I had 3 IRA”S and ran 2 separate SEPPS on 2 of the 3 IRA”S. In 2003 I changed one of the SEPPS” to the RMD method which produced a minimum yearly distribution. Calculate my annual withdrawal based on 12/31 balance and take annua distribution every Dec. My other has been a monthly distribution using amortization method. I know I can continue the monthly distribution till 3/2010 and meet SEPP requirements.My question is how do I end the RMD SEPP. If my 12/31/09 calculation says a $3000 distribution for 2010 what am I obligated to take in 2010. Thank you.
2009-06-08 13:37, By: Ed, IP: [76.116.188.225]

L2: End of SeppEd,
Assuming that you will reach 59.5 in Feb, 2010, your options for 2010 are the same for each of the IRAs, regardless of type of calculation method. You have long since distributed 5 years of SEPP distributions from both these IRAs. Your choices are:
1) Take nothing in 2010
2) Take 1/12 of your 2010 distribution in January or
3) Take the entire 12 month distribution in January.
Under all 3, do not take any distribution in Feb, which is the month your SEPPs end. That way you will not be confused over the date of any Feb distribution.
2009-06-08 20:00, By: Alan S., IP: [24.116.165.60]

L3: End of SeppThank you for your quick response. Since my birthday is 8/31 according to calculator my final SEPP payment would be 2/28/2010.Shouldnt I take 1/6 of annual distribution in January or 1/12? 2009-06-08 21:15, By: Ed, IP: [76.116.188.225]

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