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Final 72(t) Distribution

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BySimo

L1: Final 72(t) Distribution My client received his initial 72(t) distribution on August 15, 1996 at the age of 48. All subsequent payments were received on June 1 of each year. He turns 59 1/2 on May 5, 2008. When must he take his final distribution, 2007 or 2008?2007-06-29 12:19, By: Simo, IP: [74.243.228.167]
L2: Final 72(t) DistributionHello Simo:
Your client must take a full annual distribution in 2007; evidiently on 6/1/07.
For the period 1/1/08 to 5/5/08 your client has two choices: (1) take the full annual distribution; (2) take no distribution. In any event, no other distribution should occur during this time period.
On 5/5/08 the SEPP plan ends; commencing 5/6/08 your client can take whatever distributions pleases him.
TheBadger
wjstecker@wispertel.net

2007-06-29 14:42, By: TheBadger, IP: [72.42.66.10]

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