excess SEPP distributions

L1: excess SEPP distributionsIf a client is taking distributions from a SEPP (72T) and takes excess distributions, does the SEPP remain in force, or does the fact of excess distributions nullify the contract? If excess distributions trigger the 10% penalty to which distributions does the penalty apply: all or just the excess distributions?2006-04-13 12:49, By: Skipper, IP: [216.210.177.45]
L2: excess SEPP distributionsHello Skipper:
Unfortuantely, taking extra / excess distributions from teh same IRAs as the SEPP plan is considered a modofication; therefore the 10% surtax is due on ALL distributions made.
TheBadger
wjstecker@wispertel.net

2006-04-13 16:17, By: TheBadger, IP: [66.109.211.254]