Sepp Date vs IRA Value Date
L1: Sepp Date vs IRA Value DateI wanted to know if you can take a Sepp Mid term rate in one month, And take a IRA value amount in a different month.
Current month and 2 previous months.
Age 53 Date 2/18/2013
or in near future with these unreal rates.
Ron2012-09-05 12:27, By: Ron, IP: [220.127.116.11]
L2: Sepp Date vs IRA Value DateDefinitely.
The IRA Value Date is usually the highest end of month value from the prior 12/31 thru 6/30 for SEPP plans starting during the first half of the year. After 6/30, usually it continues as the highest of the last 6 months before the month you start.
You are actually allowed to use any day within any of these months if you can print out a realiable valuation listing.
So, you could use 12/31 for value, but an April or May interest rate, for a plan starting in June. or presently use a 6/30 value and the August or Sept rates for an Oct start.2012-09-06 17:32, By: dlzallestaxes, IP: [18.104.22.168]
L3: Sepp Date vs IRA Value DateThe IRS provided an example of a 12/31 value being acceptable for a plan starting in June. However, RR 2002-62 states that the value must be a reasonable representation of the IRA value when the plan begins. There is no set definition of what is “reasonable”. My own guess would be that you would be safe using a value that is no more than 15% higher than the current value of the IRA.2012-09-06 20:16, By: Alan S, IP: [22.214.171.124]