Final distribution in year you turn 59.5

L1: Final distribution in year you turn 59.5My birthdate is 12/29/1956. My SEPP 5 year plan first annual distribution was 03/27/2012 and my fifth and final distribution was 03/27/2016. I turned 59.5 on 06/26/2016. After that date, can I take an additional IRA distribution in 2016 from that IRA, or do I have to wait till 03/27/2017,(Which would be my first modification date) which is 5 calendar years from my first distribution? There seems to be some confusion if it is 5 years AND 59.5 (or 59.5)?2016-07-22 14:47, By: Tom R, IP: [98.28.138.145]
L2: Final distribution in year you turn 59.5No confusion – you have a 5 year plan.
Based on your date of birth and first distribution date, the 5 year period ends on 3/17/2017 and the first modification date would be 3/28/2017. The 5 years doesn’t end of the 5th distribution, but rather on the last day of the 5th year.
No additional distributions until after 3/27/2017.2016-07-22 16:24, By: Gfw, IP: [205.178.65.222]

L2: Final distribution in year you turn 59.5I do not understand why you say there is confusion.
It is the later of age 59 1/2 or after 5 years (60 months) from the date of your 1st distribution.
Unfortunately, people try to “game” the rules by thinking that 5 annual distributions (which would transcend 49 months) is the same as 60 months.2016-07-22 17:01, By: dlzallestaxes, IP: [108.36.116.44]