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IRA contributions after 72t ends

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Bydaddy0

L1: IRA contributions after 72t endsHere”s a stupid question that I don”t think has ever been asked. When my 72t plan is over (more than 5 years of distributions and age over 59.5) can I then add money to my IRA account assuming I have earned income?Mike2008-01-20 04:52, By: daddy0, IP: [69.120.55.16]
L2: IRA contributions after 72t endsQUESTIONS ARE NEVER STUPID. ONLY ANSWERS ARE !!!
Once the 59 1/2 – 5 year period ends, it is no longer a SEPP 72-T plan. You remove that designation, but I”m not sure of the process. After it ends, you can take any amount from -0- to 100% of your balance.
You could always make contributions to an IRA, not only after the period ends, but also DURING the SEPP 72-T period if your situation changes. BUT, you could not make the contributions to the same account(s) designated for your SEPP 72-T. HOWEVER, you could make them to another existing non-SEPP 72-T IRA account, or set up a completely new IRA account. Similarly, you could make IRA contributions either during or after the SEPP 72-T period.2008-01-20 09:02, By: dlzallestaxes, IP: [151.197.40.253]

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