SEPP application process

L1: SEPP application processwhen i resign, i am assuming that the firm would like me to rollover my 401k to another administrator. do i rollover the 401k to the new administrator first before applying for the SEPP? or can i do the process with the current administrator upon my resignation from the firm?and are there any instances when the application is disapproved? i do not want to resign and then be left with no money (of course, i could just opt for early withdrawal with penalty — ugh!)thanks a lot.2002-03-21 11:15, By: lutamata, IP: [127.0.0.1]
L2: RE: SEPP application processwhen i resign, i am assuming that the firm would like me to rollover my 401k to another administrator.maybe, maybe not. It depends on whether or not your 401(k) plan supports/permits periodic payments. If so & your happy with the plan, you can leave your assets there; otherwise, yes, you would need to rollover your assets to an IRA.do i rollover the 401k to the new administrator first before applying for the SEPP? or can i do the process with the current administrator upon my resignation from the firm?You have a bit of a misconception here. One does not apply for SEPPs. Rather, SEPP program is adopted unilaterally by a taxpayer which should be “self documented”.and are there any instances when the application is disapproved? i do not want to resign and then be left with no money (of course, i could just opt for early withdrawal with penalty — ugh!)As I said above, there is no application . It is incumbant upon the taxpayer to design a SEPP plan by himself. Obviously care should be taken to design a plan that will withstand IRS scrutiny.If you need help in this regard, drop me a note @ wjstecker@wispertel.netTheBadger2002-03-21 18:47, By: TheBadger, IP: [127.0.0.1]