Last payment

You are here:
< Back

L1: Last paymentI started a 72t on 9/04/2007. My birthday is 3/4/1953. I took a partial payment equal to 1/3 of the full amount the first year. I used a valuation date of 8/31/2007.In using the calculator on this site the first date for modification would be 9/05/2012. I plan to take full payments thru 9/04/2012. After the modification date can I take further payments in 2012 or do I have to wait until 2013? Thanks2009-01-10 13:59, By: Rick H, IP: []
L2: Last paymentAfter the modification date passes, you should be able to take as much or as little as you want from your IRA. It is likely that your IRA custodian will only issue a single 1099-R for the year in which your 72t plan ends, so you may need to file a form 5329 for that year. All years following that should not require that a form 5329 be filed.2009-01-11 05:41, By: Ed_B, IP: []