Millions of people who have not yet reached age 59 1/2 would like to get their hands on some of the money they have accumulated in their qualified retirement plan -- without paying the 10% tax penalty. They may have lost their job due to "downsizing," be in poor health, or do not want to wait until until they are "too old" to retire.

Chapter 3 of Thomas F. Streiff and David Shapiro's excellent book, Distributions from Qualified Plans (Dearborn Press, 2002), lists the exceptions to the 10% penalty tax, including death, disability, higher education expenses, and substantially equal periodic payments over the planholder's lifetime. For obvious reasons, Section 72(t) of the IRS code, and the October 3, 2002 guidelines from Revenue Ruling 2002-62, generally provide the most practical method to receive distributions prior to age 59 1/2 from a qualified retirement plan and avoid the 10% tax penalty.

IMAGISOFT 72(t) Software will help you:


  72(t) Software - Substantially Equal Payments, 72t, SEPP accurately calculate three  methods, the RMD, Fixed Amortization and Annuitization, using the IRS tables
  72(t) Software - Substantially Equal Payments, 72t, SEPP look up the 120% Mid-Term AFR - Approved Federal Rate
  72(t) Software - Substantially Equal Payments, 72t, SEPP provide your clients with accurate, easy to understand, printed reports
  72(t) Software - Substantially Equal Payments, 72t, SEPP enter and store client information into well designed, simple, input screens
  72(t) Software - Substantially Equal Payments, 72t, SEPP e-mail reports to clients in Adobe's Portable Document Format (PDF)
  72(t) Software - Substantially Equal Payments, 72t, SEPP help your clients avoid massive IRS penalties / private letter ruling fees
     

  Corporate Users include, Waddell & Reed, Northwestern Mutual Investment Services, Conseco, Ameritrade, Oxford Life, and Genworth (formerly GE) Financial

  Click here to order on our secure server The cost for this software is only $130.00 with a 30 day money back guarantee. Includes 72(t) SEPP calculator.
Company licenses of 50 or more units available.
 
Try before you buy! Click the image to the left to install a fully functional copy of the 72(t) SEPP Software that does everything except print.
Requires Windows XP, 2000, ME, 98, or NT. Windows 95 no longer supported.
 
Other Information
IRS January 3, 2006 Press Release announcing vastly increased fees -- $625 to $10,000 -- for private letter rulings. Ed Slott says, "From now on, if you cannot afford the high IRS ruling fees, you better stick to the book and not try anything fancy. Maybe that is what IRS had in mind." For the entire article see IRS Super-Sizes Fees for IRA and Plan Private Letter Rulings
IRS October 3, 2002 Press Release announcing 72(t) new regulations
Financial Planning Magazine article
NOLO Law Center Getting Your Retirement Money Out Early - Without Penalty
The Retirement Planning Center has a wealth of useful information

IMAGISOFT , Inc.  PO Box 13208  Albuquerque, NM 87192-3208   (877) 510-4702  tech.support@imagisoft.com
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