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Final SEPP Distribution

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Bynick

L1: Final SEPP DistributionMy final monthly SEPP payment will be on 2/01/2007! I began my 72t on 3/01/2007!
I would like to know if I can withdrawl some additional money in mid Feb 2007 without a10% penalty for apremature distribution! I must pay some Hospital and Doctor bills and don”t want to blow it after 5 years! I dounderstand that it is 5 years or 591/2 which ever is longer but do I have to wait that additonal month!
Would appreciate any and all responses! Thanks!
Thanks to this site I researched my own answer and I found out that I must wait until after March 1st 2007 to make a withdrawl with out busting the plan!!!2007-01-19 21:25, By: Nick, IP: [75.31.61.184]

L2: Final SEPP DistributionYou have a typo. I think you started your 72T on 3/1/2002, not 2007. I would contact the doctors, hospital, etc., in writing, to explain the situation, and inform them that you will pay them in March.
If you have other IRA accounts not in your SEPP, you might qualify for medical distributions from those accounts without any 10% penalty under a different exception section if you insist on paying before March.2007-01-20 05:12, By: dlzallestaxes, IP: [4.175.9.45]

L2: Final SEPP DistributionNick:
I agree with dlz that you have some typos, but I”m not sure which are the typos. I ran the “Last Payment Date” calculator, located on this site,assuming a 3-1-2002 first payment and I got 3-1-2007 as your first modification date, not 2-1-2007 as you stated. My suggestion is that you run this calculator using your date of birth (which you didn”t indicate in your post). I would hate to see you bust a plan by using the wrong, first modification date.
Jim2007-01-22 08:11, By: Jim, IP: [70.184.2.72]

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