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72(t) Distributions

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If you are interested in receiving money from your retirement accounts before turning 59 ½, the Internal Revenue Code section 72(t) allows you to do this without the normal 10% premature distribution penalty. However, there are stipulations. For example, payments must last for 5 years or until your reach age 59 ½, whichever is longer. You are also required to receive Substantially Equal Periodic Payments based on your life expectancy using IRS approved calculations.

An NCA advisor can guide you through these complex rules and calculations to determine if this is right for you. Contact NCA Financial Planners at 440-473-1115 to set up a meeting.
 


For more information on how NCA’s top rated financial advisors can help you with 72(t) distributions, contact us at 440.473.1115.