SEPP One Time Change

L1: SEPP One Time ChangeI understand once an SEPP is set up say with the Amortization Method there is a special rule that allows a one time change to the Minimum Required Distribution (MRD) Method. Do you have to be 70.5 years old to invoke this rule? Also what I read said you could only make the one time change to the MRD method. Is this correct? Thank you.2010-04-17 18:29, By: ralph, IP: [98.200.50.114]
L2: SEPP One Time Change1. You could never reach 70.5 under a SEPP 72-T plan. It only lasts to the later of 59.5 or 5 years in the plan.2. You can only change your method of calculating distributions ONCE, until you reach the later of 59 1/2 or 5 years in the plan. After that, you can take distributions of anywhere from -0- to 100% of your plan. ( At age 70.5 you would be required to take MINIMUM DISTRIBUTIONS each year, but this has nothing to do with a SEPP 72-T plan. It is a different regulation.2010-04-17 22:04, By: dlzallestaxes, IP: [173.49.30.37]