Early no-pen IRA withdrawal

[Black Bart]

How do you do the "substantially equal periodic payments" procedure to beat the 10% penalty? Does the trustee handle it and send something to IRS about it (other than the usual 1099)?

[S T]

1099r

The trustee should handle on the 1099R reporting, Box 7 should contain code 2.

See this link http://www.irs.gov/pub/irs-pdf/i1099r.pdf page 10.

Sandy

[Donanita]

Also called

a T Plan by some investors.Had a lot of my clients retire before 591/2 and have their pretaxed plans rolled over to investment companies.They then could withdraw a set amt over the a set time period and omit the 10% pen.