Publication – 590 – SEPP as Valid exception to 10%

L1: Publication – 590 – SEPP as Valid exception to 10%I don”t see SEPP listed as a valid exception to 10% penalty in the 2005 Publication 590 (can”t find a 2006 version). Am I missing it?
Please advise any IRS document that does inlude it2007-02-17 05:37, By: Jacko, IP: [68.82.191.120]

L2: Publication – 590 – SEPP as Valid exception to 10%>>IRS DocumentFrom the menu above, select 72(t) and then Rev.Rul. 2002-622007-02-17 05:42, By: Gfw, IP: [24.148.85.129]

L2: Publication – 590 – SEPP as Valid exception to 10%From the 2005 Pub 590, Exceptions

Annuity. You can receive distributions from your traditional IRA that are part of a series of substantially equal payments over your life (or your life expectancy), or over the lives (or the joint life expectancies) of you and your beneficiary, without having to pay the 10% additional tax, even if you receive such distributions before you are age 59_. You must use an IRS-approved distribution method and you must take at least one distribution annually for this exception to apply. The required minimum distribution method,۝ when used for this purpose, results in the exact amount required to be distributed, not the minimum amount.

There are two other IRS-approved distribution methods that you can use. They are generally referred to as the fixed amortization method۝ and the fixed annuitization method.۝ These two methods are not discussed in this publication because they are more complex and generally require professional assistance. See Revenue Ruling 2002-62 in Internal Revenue Bulletin 2002-42 for more information on these two methods. To obtain a copy of this revenue ruling, see Mail in chapter 6. This revenue ruling can also be found in many libraries and IRS offices.

The payments under this exception must generally continue until at least 5 years after the date of the first payment, or until you reach age 591/, whichever is later. If a change from an approved distribution method is made before the end of the appropriate period, any payments you receive before you reach age 59_ will be subject to the 10% additional tax. This is true even if the change is made after you reach age 59_. The payments will not be subject to the 10% additional tax if another exception applies or if the change is made because of your death or disability.
2007-02-17 05:47, By: Gfw, IP: [24.148.85.129]

L2: Publication – 590 – SEPP as Valid exception to 10%Hello Jacko:
See Pub 590, page 50, left side, paragraph titled “Annuity”.
TheBadger
wjstecker@wispertel.net
2007-02-17 05:53, By: ThBadger, IP: [72.42.67.163]

L2: Publication – 590 – SEPP as Valid exception to 10%Thanks
Sorry – missed it – didn”t look under annuity2007-02-17 11:56, By: jacko, IP: [68.82.191.120]

L2: Publication – 590 – SEPP as Valid exception to 10%”SEPP” stands for “SUBSTANTIALLY EQUAL PERIODIC PAYMENTS”, which is the wording used in the answer above, and in Pub 590.2007-02-19 18:28, By: dlzallestaxes, IP: [4.175.9.108]

L2: Publication – 590 – SEPP as Valid exception to 10%The exception is also spelled out in Pub 575, p 30 with respect to pensions and annuities, and shows as “a series of substantially equal periodic payments”.
The IRS chose not to list the exception as “annuity” when referring to annuities, but thelabel “annuity” was acceptablewhen referencing IRA accounts…………:)2007-02-19 18:41, By: Alan S., IP: [24.116.66.98]