restarting a 72t

L1: restarting a 72tIf you stop your 72t and pay the penalty. Can you restart if again? If so, is there a time limit to wait, or can you restart at any time?2002-06-05 07:20, By: Henry, IP: [127.0.0.1]
L2: restarting a 72tThe answer is YES, you can restart at a later date. Your 2nd question is tougher — how long to wait before restarting. The real issue here is how long must you wait so that the distributions in the 2nd SEPP can not be mis-interpreted as some form of continuation (albeit incorrect) of the 1st SEPP? At the moment there is no SEPP labeling process to make this clear; thus I would suggest a two part answer:1. In general I would wait past a year-end before starting the 2nd SEPP program & needless-to-say, I would document it very carefully.2. In an abundance of caution, I would file for a PLR, not so much to get the opinion itself, but to get the facts & figures down on paper in front of the IRS so that it becomes unequivocable that the distributions related to the 2nd SEPP do in fact belong to the 2nd and can in no way be connected to the 1st & then somehow be subjected to the penalty; e.g. I call this “drawing a bright line in the sand”.TheBadgerwjstecker@wispertel.net2002-06-05 07:45, By: TheBadger, IP: [127.0.0.1]