Timing of annual distribution
L1: Timing of annual distributionHi all,
Am currently on an existing SEPP plan, started taking annual distribution beginning on Feb 6, 2013 and then took the second year distribution on Feb 6, 2014. The annual distribution amount is the exact same every year.
Does it matter which month I take my distribution in 2015 and subsequent years ? For example, can I take it as early as January 5, 2015…as long as I keep taking the exact same annual amount each year ?
Thanks.2014-12-05 19:23, By: EarlyOut, IP: [188.8.131.52]
L2: Timing of annual distributionSEPPsare calendar year plans, so it does not matter when you take your distribution until the final year of your plan. In the final year (year your plan ends) you have to be sure to take the fullrequired amount before the plan ending date.2014-12-05 23:54, By: Alan S, IP: [184.108.40.206]
L3: Timing of annual distributionAlan S,
Thanks for the response.2014-12-06 01:46, By: EarlyOut, IP: [220.127.116.11]
L3: Timing of annual distributionAlan S, your second sentence here assumes that age 59.5 was reached before the 5 years have passed and hence the 5-year rule applies, correct?2016-12-14 18:00, By: S, IP: [18.104.22.168]