72(t) withdrawals
When counting the five years, if longer than 59 1/2…do we count 60 payments (if monthly distributions) or exactly 5 years? For example, if the five year clock started with the first distribution on 9/1/02…is the last monthly distribution on 8/1/07 (60th payment) or 9/1/07?
Permalink Submitted by Alan Spross on Fri, 2007-09-14 23:40
The August payment is the last one. I would wait a few days after 9/1 before taking additional unrestricted payments from the IRA just to be absolutely sure you are past the modification date which is 5 years from the date you received your first payment under the SEPP.