SEPP Question

cookrd1 · 11-20-2004, 05:49 AM

If I start my SEPP in December, 2004, I assume that this obligates me to the same withdrawal rate through December, 2009 OR, is there some provision to only count calendar years if I take a full year's withdrawal in December 2004?

How am I affected if I wait until Jan 2005 to start the SEPP withdrawals? Am I better off starting the SEPP now or waiting until next year?

ALSO - I have two seperate IRA accounts. Can I start a SEPP withdrawal from one (perhaps $30k/year) and a couple of years later, if necessary, start a SEPP withdrawal from the second account? OR, do I have to include the value of both accounts and live with one set SEPP withdrawal amount?

Are there any forms that I will need to file with my income taxes?

Thanks, Bob

Michael · 11-20-2004, 07:04 AM

http://www.retireearlyhomepage.com/sepp2003.html

http://www.retireearlyhomepage.com/seppnew.html

Hyperborea · 11-20-2004, 10:09 AM

I would also add www.72t.net That's the site run by "The Badger" from The Motley Fool.

11-20-2004, 05:49 AM	#1
cookrd1 Confused about dryer sheets Join Date: Jun 2004 Posts: 1	SEPP Question If I start my SEPP in December, 2004, I assume that this obligates me to the same withdrawal rate through December, 2009 OR, is there some provision to only count calendar years if I take a full year's withdrawal in December 2004? How am I affected if I wait until Jan 2005 to start the SEPP withdrawals? Am I better off starting the SEPP now or waiting until next year? ALSO - I have two seperate IRA accounts. Can I start a SEPP withdrawal from one (perhaps $30k/year) and a couple of years later, if necessary, start a SEPP withdrawal from the second account? OR, do I have to include the value of both accounts and live with one set SEPP withdrawal amount? Are there any forms that I will need to file with my income taxes? Thanks, Bob

11-20-2004, 07:04 AM	#2
Michael Full time employment: Posting here. Join Date: Nov 2002 Posts: 768	Re: SEPP Question http://www.retireearlyhomepage.com/sepp2003.html http://www.retireearlyhomepage.com/seppnew.html

11-20-2004, 10:09 AM	#3
Hyperborea Full time employment: Posting here. Join Date: Sep 2002 Posts: 841	Re: SEPP Question I would also add www.72t.net That's the site run by "The Badger" from The Motley Fool. __________________ Hyperborea - A Perpetual Traveller in Training<br />Patriotism is your conviction that this country is superior to all other countries because you were born in it. George Bernard Shaw<br />The world is not black and white. More like black and grey. Graham Greene

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