After more than 10 years of Study on this site, I initiated my 72T plan in 2013 and made my 5th annual distribution in 2017 to complete my plan, so I would like to thank everyone on this site past and present! As everyone here knows, accurate 72T information is hard to come by and this site is a treasure trove!! Thanks Gordon for all your hard work maintaining this site.
2017-12-30 17:04, By: Bob_85364, IP: [126.96.36.199]
Thanks for the nice comments and glad you plan was a success.
Best wishes to you and yours for a Happy & Prosperous 2018!
2017-12-30 17:10, By: Gfw, IP: [188.8.131.52]
BE CAREFUL !!! Not so fast.
First, the plan must be in existence for at least 60 months. Since you took your first annual distribution at some time in 2013, the 60 months will not be up until 1 day after the 5 year anniversary of the first distribution, which by definition will be sometime in 2018 !!! It does NOT end after the 5th annual distribution, which could be as early as the day after the 4-year anniversary of the initial distribution.
Second, even if the plan has been in existence for 60 months, you also must be 59 1/2 as well, because the plan does not terminate until the LATER of these two events.
2017-12-30 17:46, By: dlzallestaxes, IP: [184.108.40.206]
Yes.. Thanks DLZ for the double check. I don’t plan to take anything from the IRA I used to fund my 72t in 2018. (earlier this year I posted my plan details for a recheck.. that’s why I didn’t post them now)
1st Distribution Date 9/6/2013
Date Age 59.5 8/3/2015
5 Year Date9/6/2018
1st Modification Date9/7/2018
2017-12-30 18:51, By: Bob_85364, IP: [220.127.116.11]