SEPP periodic payments

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L1: SEPP periodic paymentsI have read the forums and still have a question – are the SEPPs considered an annual payment or based on the actual frequency. For instance, if my annual SEPP is $13,000 can I take $1,000 per month and $2,000 in the final month and still qualify to avoid the 10% penalty under the SEPP rules? What if the next year I take it in one lump payment of $13,000?2009-07-13 19:25, By: Want2Retire, IP: []
L2: SEPP periodic paymentsThat’s fine. In the first calendar year you have the option of taking EITHER the full annual amount, or the prorated amount, but no other amount is allowed. In all years the IRS doesn’t care how frequently or infrequently you take the distribution, so long as the total for each year is exactly your annual calculated amount.2009-07-13 19:53, By: dlzallestaxes, IP: []