Missed Distribution

You are here:
< Back

L1: Missed DistributionI have a 72t and have been taking monthly distributions since 2008 for $1500. I missed on month in 2009 because of a clerical error. How do I handle the missed distribution to correct the error.2010-03-29 20:18, By: fredbilitnikof, IP: [99.22.255.114]
L2: Missed DistributionStart by reading post titled “Forgot to take my 2009 SEPP payment” a few messages down – he had the same problem. But, basically, you busted the plan when you didn’t take the proper distribution amount in 2009.Thereare no provisions for making upa missed distribution and that is why in our Planning Pointers, we have the following statement… It is your responsibility. Don’t assume that someone else is taking care of your plan. Check the calculations and make sure that in early December of each year you check to make sure that you will have received the total annual distribution for the year. There may be a 60 days window to rollover excess distributions, but there is no window to take additional funds out to meet the required annual payment.2010-03-29 20:28, By: Gfw, IP: [24.148.10.164]