first year of sepp, can I change to stub year?

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L1: first year of sepp, can I change to stub year?I started my SEPP in August with the plan that this year will be a full year of withdrawals. At this point, is there anything stopping me from readjusting that thought and making this year a stub year instead?
2015-09-29 12:47, By: questioning101, IP: []

L2: first year of sepp, can I change to stub year?You are ok so long as you have not, and do not, take more than 5/12 of the annual amount in the first year, since you started in August.2015-09-29 13:59, By: dlzallestaxes, IP: []

L3: first year of sepp, can I change to stub year?If you have already withdrawn more than 5/12 of your annual calculation and are thinking about rolling the excess back, that could bust the plan.
While a roll back can save a SEPP where the taxpayer mistakenly distributed more than the annual payment, those excess amounts are not considered SEPP distributions. However, if you rolled back an amount between 5/12 and 100% of the annual, even though 5/12 is an option, the amount you are rolling back ARE SEPP distributions, and therefore are not rollover eligible. I doubt the IRS would let the 5/12 option override the rollover of a SEPP distribution.
Conversely, if you have not yet distributed more than 5/12, you can stop at 5/12. You might want to wait until December to keep your options open as long as possible. If you do not need the 100% amountnow, you might want todistribute it anywayas insurance against falling short later on and being under pressure for funding.2015-09-29 17:46, By: Alan S, IP: []

L4: first year of sepp, can I change to stub year?To expand on Alan’s excellent answer, I often suggest that clients take more than they might need for the first year itself by taking the full annual amount, so that they will have a little cushion that they can use over the next 5 years or until 59 1/2 if they run into a cash shortfall. There is no penalty for taking the full annual amount rather than the prorata amount, and this could save you in the future from busting the plan if an emergency arises.2015-09-29 18:05, By: dlzallestaxes, IP: []

L2: first year of sepp, can I change to stub year?Thank you all for the responses. It’s good to know that I can do a full year/or a stub year, and that I don’t have to decide now. I’ve been taking monthly withdrawals (Aug and Sept so far), and was planning on taking the balance for the year in December.
It’s good advice to just wait until December and then decide. I was thinking that if I left the rest of the money in my IRA for this year (instead of taking it as a full year withdrawals) that would postpone withdrawals that I would need to take. With this drop in the market, I kind of want to take out as little as possible. But, on the positive side the money that I need for 72t withdrawals have been in a money market fund inside my IRA since the end of July…. before the drop in the market. 2015-09-29 22:20, By: questioning101, IP: []