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Over the past months I have been impressed by the participants to these Boards. The information on IRA and 401(k) Distributions (before and after age 59 1/2) was most helpful to me. And I think I also understand the 3 options available for Minimum Required Distributions (MRD) at 70 1/2. However, maximum is never discussed! Question: Is their any upper limit on taking Distributions, after 70 1/2, (other than the obvious one of running out of money before your death)? Must distributions be annual, monthly, etc. as long as they exceed in total the MRD for the tax year? I thought I read, someplace over the past years, of some restrictions, do they still apply? Thanks for your timely response.
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I'm not an accountant or lawyer, but as far as I know there is no limit on what amount you remove once you are over 59 1/2. You can remove 100% on the day you turn 59 1/2. You have to pay income tax, but no other penalty. All the restrictions are on not removing enough after age 70 1/2.

Jim
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Rspires asks:

<<Question: Is their any upper limit on taking Distributions, after 70 1/2, (other than the obvious one of running out of money before your death)? Must distributions be annual, monthly, etc. as long as they exceed in total the MRD for the tax year? >>

Those who reach age 70 1/2 must take minimum required withdrawals. Nothing precludes them from taking more than what is required. And the withdrawals may be taken in any fashion (i.e., weekly, monthly, quarterly, lump sum, etc.) just as long as the minimum is taken on or before 12/31 of the year in which it must be withdrawn.

Regards..Pixy
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No upper limit that I know of. Only limitations are the MRD and the tax implications.
he2
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