SEPP Distribution Question
L1: SEPP Distribution QuestionHello Guys, I have a Vanguard IRA that I was wanting to start taking SEPP payments from. After using this website I seen that if a person starts a SEPP program in the middle of the year or in my case August that I don’t have to take my full yearly calculated amount used in my formula for that first ‘stub’ year.When I started setting this up withVanguard they told me that I had to take the full yearly amount this year as I will be doing each year after untill I reach 59 1/2 in my case.Is this correct or if not where is is documented with the IRS that this is not correct?. I have stoped this process untill I know the IRS take on this since I don’t want to get in trouble with them.
Thanks for any help on this matter.
2009-08-06 20:20, By: DRS, IP: [18.104.22.168]
L2: SEPP Distribution QuestionAsk for a SEPP 72-T specialist for a pre-59 1/2 distribution plan, or a supervisor. Not all of Vanguard, or any company’s personnel, understand this area, and they do not realize that they should forward your call to someone else who does.2009-08-06 20:46, By: dlzallestaxes, IP: [22.214.171.124]