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Speaker, author, teacher, consultant: I teach/consult to financial, tax, and legal professionals about the tax laws that govern IRAs and employer plans

Guide to the Early Distribution Penalty Exceptions for Distributions from Retirement Accounts

  • 29 Oct 2018
  • 12:00 PM - 3:00 PM
  • Private event

Program Name: Appleby’s Guide to the Early Distribution Penalty Exceptions for Distributions from Retirement Accounts 


Distributions from retirement accounts that occur before the account owner reaches age 59½ are subject to a 10% additional tax, unless an exception applies.

Eligibility for any of these exceptions is determined by several factors, including the type of account from which the distribution is made.  Making a wrong move can result in a retirement account owner losing eligibility for an exception. In some cases, exceptions can only be claimed through proper reporting on the individual's tax return.

Major Topics

  • ·         Early distribution penalty
  • ·         Exceptions to the age 59½ rule
  • ·         Substantially equal periodic payments
  • ·         Exceptions by plan/account type
  • ·         Transfer and rollover rules and their effects on qualifications for the exceptions
  • ·         Claiming the exception when an IRA custodian's tax reporting shows no exception
  • ·         The rules that apply to the different exceptions

Learning objectives

  • ·         To be able to identify distributions that might be subject to the 10% early distribution penalty.
  • ·         To ensure that clients who qualified for the exceptions do not pay the 10% early distribution penalty because of conflicting tax reporting by IRA custodians and plan trustees.
  • ·         To understand the tax reporting requirements that apply to early distributions.
  • ·         To determine suitability for the substantially equal periodic payment program.

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