timing of 72t
If client started first 72t distri’b on 5/13/2011, they can take next one 1/1/12, right? They can take any time during calendar year, right? Thanks!
If client started first 72t distri’b on 5/13/2011, they can take next one 1/1/12, right? They can take any time during calendar year, right? Thanks!
Permalink Submitted by mk foss on Fri, 2011-12-09 22:28
If they’re taking an annual distribution each year, it does not have to be in the same month each year. It’s important to remember that the 5 year peiod (if that’s longer than until age 59-1/2) ends 5 years after the first payment – but outside of that, the payments can be taken at any time during the year.
Permalink Submitted by Cathleen Burns on Fri, 2011-12-09 22:30
thank you!!