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timing of withdrawals

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ByFrank

L1: timing of withdrawalsI would like to set up withdrawals this year. My DOB is 2/6/49.If I start withdrawals on 7/01/03, I think I would have to take 6 withdrawals- July 2003 to July 2008, inclusive. My earliest modification date will be 8/07/08. However, if I start 9/01/03 could I take only 5 withdrawals (ending 9/01/07 and modifying 8/07/08? Is it 5 withdrawals or 5 calendar years?2003-05-08 11:24, By: Frank, IP: [127.0.0.1]
L2: timing of withdrawalsHello Frank:
In both situations, I am presuming you are referring to annual withdrawals. With that in mind, I think you can take 5 annual withdrawals under either start date. What is really important here is what you do in the period 1/1/08 to 8/6/08; the time period during which you have satisfied the 5 year rule, but you are not yet 59 1/2. I beleive the correct answer is that you should either take the 6th annual withdrawal in full or do absolutely nothing; waiting until 8/7/08 to make another & different withdrawal.
TheBadger
wjstecker@wispertel.net

2003-05-08 11:35, By: TheBadger, IP: [127.0.0.1]

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