Precise amount taken a requirement?
L1: Precise amount taken a requirement?Once the required amount of the SEPP is determined, can more be taken annually with only the SEPP amount not penalized? Or does the total amount become subject to the penalty if even the required amount is off by $1?2010-03-09 15:58, By: Neil, IP: [220.127.116.11]
L2: Precise amount taken a requirement?$1 is about the maximum leeway from THE EXACT ANNUAL DISTRIBUTION. Any deviation, above or below, will subject you to the 10% penalty on 100% of ALL DISTRIBUTIONS CUMULATIVELY since the beginning of the plan. There are some recent developments that allow additional distributions for other exception expenditures, but tread carefully in that area.2010-03-09 16:47, By: dlzallestaxes, IP: [18.104.22.168]