Timing of withdrawal

L1: Timing of withdrawalI took my first annualwithdrawal using the amortization method on 12/30/05. How soon can I take another withdrawal ? Thanks.2006-03-22 16:54, By: RAP, IP: [162.39.161.74]
L2: Timing of withdrawalYou can take any amount any time during the year as long as the total taken for the year equals the annual payment for the year.2006-03-22 17:15, By: Gfw, IP: [172.16.1.72]

L2: Timing of withdrawalThanks for your help2006-03-23 16:25, By: RAP, IP: [162.39.161.74]

L2: Timing of withdrawalSo according to the response you could take two fullYEAR withdrawals within two DAYs. The first full year withdrawal on 12/30/05 and the second full year on 01/01/06. Correct?2006-03-23 23:19, By: mikt, IP: [152.163.101.6]

L2: Timing of withdrawalTry 3-days.
I doubt you will get anyone to process anything related to distributions on 1-1-XX.
Jim2006-03-26 14:16, By: Jim, IP: [70.184.1.35]

L2: Timing of withdrawalOf course, the real risk with these dates is that if the 12/30 does not get done, by the time it is discovered it is too late and you have a real problem. I suggest any year end distribution get done before the Christmas Holidays at the very latest, when there is still a last minute window to correct a snafu.2006-03-26 20:01, By: Alan S., IP: [24.116.165.157]

L2: Timing of withdrawal>Of course, the real risk with these dates is that if the 12/30 does not get done, by the time it is discoveredit is >too late and you have a real problem. I suggest any year end distribution get done before the Christmas >Holidays at the very latest, when there is still a last minute window to correct a snafu.
I agree with Alan 100% on this.
Last year my automatic monthly distribution for October had not been recorded two days after its scheduled date when I checked the online access of my account. I called the trustee and asked for some action, after all it is my only monthly paycheck. Of course after this was done the automatic distribution also kicked in giving me two distributions in October, and I was concerned about getting one of the next two distributions shut off to keep my annual amount correct. Everything worked out but it does take time to make these adjustments.2006-03-26 20:26, By: John, IP: [71.208.239.248]

L2: Timing of withdrawalI agree with having your SEPP distributions earlier rather than later in the month of December. Let me relate a story which will illustrate this point.
Most of my clients are set up to automatically receive their annual RMD from their IRA accounts. Most of the custodians use 12-27 as the last date that can be chosen for these distributions, and this has been working well for many years. However, one phone call from a client who does not have a computer and therefore is not “online,” has caused me to starta process to change these distribution dates to no later than 12-10.
I received a paniced call from this client about January 16, 2006. Her last bank statement of 2005, which had a cut-off date of 12-24,did not reflect the deposit of her RMD, and her distribution date was 12-27. I suggested she call her bank to see if it had been credited yet and then call back. I knew the distribution had been made because I had already checked with the custodian, and the transaction confirmation was already inher file. Ialso checked online andher 1099-R reflectedthe proper RMD amount. About an hour later she called back and said the bank confirmed the deposit was made to her account in 2005,and now she could breathe easier.
So far, everyone I have talked with has agreed to adjust their distributions back to the earlier date in December, and many have told me that they feel more comfortable with this change.
Jim2006-03-27 08:54, By: Jim, IP: [70.184.1.35]