72t annual shortage

I have a client preparing is tax return for 2009. In review of the 72t distribution, a shortage of $180.00 has been discovered. I called the investment company and when asking for documentation for the distributions for the year 2009; they could not find the documentation. My question is with this being year 2016; what would be your advice how to handle the $180.00 shortage?

In 2013, a shortage of $15.02 was discovered also.

Thank you



What was the term of the SEPP plan? Has client been filing a 5329 every year, or has he just not filed for multiple years?  Technically, the plan was busted in the first year of a deficient distribution, and once busted the plan ends. SEPP distributions cannot be started up after a busted plan without doing an entirely new calculation from scratch.



Add new comment

Log in or register to post comments