Rules Regarding Substantially Equal Periodic Payment (SEPP)

Topics:
Amortization,
Retirement
Tags:
Asset,
Asset Management,
Business Operations,
Investopedia,
Operational Planning
Source:
Investopedia

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Overview: If one has an IRA or participate in a qualified retirement plan sponsored by one's employer, one may be planning to withdraw funds from account only once retire; however, unexpected financial hardships may force one to withdraw assets prematurely. If one withdraws these assets while under the age of 59.5, he may owe ordinary income tax on these amounts, plus an additional 10% early-withdrawal penalty. One of the exceptions to the early-withdrawal penalty is taking assets under a 'Substantially equal periodic payment' (SEPP) program.

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Format: HTML | Date: Nov 2002 | Pages: 3

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