Individual Retirement Accounts » SEP IRAs

Distributions

Distributions are taxable and can be taken penalty-free if there is an exception reason under IRC Section 72(t).

1. Age 59-1/2
2. Death
3. Disability
4. First Time Home Purchase
5. Health Insurance Premiums
6. Higher Education Expenses
7. Substantially Equal Periodic Payments
8. Un-Reimbursed Medical Expenses
9. IRS Tax Levy

Any distributions that do not meet the guidelines of one of the 72(t) exception reasons will be subject to taxation and an early withdrawal penalty of 10%.