My 401k plan doesn’t allow for substantially equal periodic payments.

L1: My 401k plan doesn’t allow for substantially equal periodic payments.
I currently have $650,000 in a 401k. My age is 11/03/61. But come to find out, from the plan administrator, that my plan doesn’t allow for SEPP. What are my next options,for possibly participating in one. This would be a new SEPP plan. I’m just asking questions right now,so I don’t have a Date of first Distribution,just yet. Thanks!
2018-01-24 23:33, By: MarkyMark, IP: [98.114.253.169]

L2: My 401k plan doesn’t allow for substantially equal periodic payments.
You are over 56 years old.
What are your plans ?
Why are you asking about SEPP from your 401-K ?
Are you still working ?
Are you planning to retire, and if so, when ?
If you will be “separating from service”, you do not need, or want, a SEPP, unless your plan will not allow partial distributions afterwards.
Before you do anything else, ask the 401-K administrator if there is company stock in the plan (from employer matching contributions). If there is, then ask for the COST BASIS of the shares in your account. There is a special IRS provision called NUA (Net Unrealized Appreciation) which can save you a lot of tax money. ( Get a copy of J K Lasser “Your Income Tax” for a 2-page explanation, or google it.)
If none of this applies to you, then is there any way to get thru the next few years to 59 1/2, rather than tying up your account for 5 years (60 months) ? How much will you need until then ?
Last option if nothing else works would be to do an electronic transfer of some (or all) of your 401-K to an IRA, and then use part or all of it to set up a SEPP 72-T.
2018-01-25 00:28, By: dlzallestaxes, IP: [173.75.252.16]

L3: My 401k plan doesn’t allow for substantially equal periodic payments.
dlzallestaxes,thanks for taking the time to reply. Much appreciated. As I had said,just asking questions,have not started any wheels in motion regarding this. Most of the points you raised are not applicable to my situation, but your last 2 points are both enlightening and informative. I may very well wait until 59 1/2. Thanks again for your response!!! Much appreciated!
2018-01-27 23:26, By: MarkyMark, IP: [98.114.253.169]