SEPP Distribution
I started a SEPP Plan and took first distribution on Sep 06, 2012. I am over 59 1/2 years old. Can I take an additional distribution after Sep 06, 2017?
I started a SEPP Plan and took first distribution on Sep 06, 2012. I am over 59 1/2 years old. Can I take an additional distribution after Sep 06, 2017?
Permalink Submitted by Alan - IRA critic on Wed, 2017-08-16 18:24
Yes, this was a 5 year plan, so you must have taken 5 years (or 60 months if monthly distributions) worth of distributions prior to 9/6. If you did not, please advise. Your plan automatically ends on 9/6 so you can take out as little or as much as you like after that date. For any distributions you took after reaching 59.5, your 1099R Box 7 code will probably change to a 7.