Skip to Content

What's Hot In Retirement Plans

Must have for financial and tax professionals:IRA...

Must have for financial and tax professionals:...

Calculators, forums, articles and more on 72(t) and 72(q) /SEPP Plans. Includes RMD Calculators...

1234

Retirement Dictionary-IRA News & Tips Best Source

Sign up for our FREE newsletter

 

You Asked Us... and We Answered

  • An individual started a substantially equal periodic payment (SEPP) / 72(t) program from his IRA three years ago.  This year ( three months ago to be exact), he withdrew more than the amount allowed under the SEPP. I understand this has ‘busted’ the SEPP.

    1. How much penalty will he owe?
    2. He still needs SEPP amounts to cover his living expenses. Should he continue the SEPP?

     

     

  • I recently inherited a Traditional IRA and would like to convert a portion of it to a Roth IRA. Am I allowed to do so?