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Category Archives: Penalties
Substantially Equal Periodic Payments (A Doorway to Penalty Free Distributions)
by Denise Appleby, CISP, CRC, CRPS, CRSP, APA Generally, taxable distributions from IRAs, qualified plans or 403(b) accounts are subject to a 10% excise tax (early distribution penalty), if the distribution occurs before the owner reaches age 59 ½. However, … Continue reading
Posted in 401(k), Distributions, IRA Cataegories, Penalties
Tagged 401(k), 72(t), Distribution, Early Distribution Penalty, IRA, SEPP
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10% Early Distribution Penalty Exceptions
Type of Exception Exception Applies To Plans & IRAs IRAs Only Plans Only Death V Disability V Annuitizing (72(t)- Substantially Equal Periodic Payments) V Medical Expenses V IRS Levy V Active Reservist V Higher Education Expenses V First Time Home … Continue reading
10% Early Distribution Penalty Exceptions
Exception Applies to Types of Exceptions Plans &IRAs IRAsOnly PlansOnly Death V Disability V Annuitizing (72 (t)- Substantially Equal Periodic Payments) V Medical Expenses V IRS Levy V … Continue reading
