Early Distributions from your IRA: The72(t)

annuity think tankThe IRS allows for penalty-free withdrawals from an IRA account. The rule requires that, in order for the IRA owner to take penalty-free early withdrawals, he or she must take at least five “substantially equal periodic payments” or equal periodic payments until age 59 1/2 whichever comes later.  The amount depends on the IRA owner’s life expectancy calculated with various IRS-approved methods.

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