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What is Rule 72(t)?

Rule 72 (t) is a section of the tax code covering early withdrawals from retirement savings plans. This particular rule allows you to take substantially equal periodic payments (SEPPs) from an IRA, 401 (k) or other qualified retirement plan without incurring the 10% early withdrawal penalty you would otherwise generally have to pay.

Are 72(t) payments a realistic option?

But, with the recent release of IRS Notice 2022-6, the potential amount of 72 (t) payments many individuals can make has been substantially increased. Which means that 72 (t) payments might now be a more realistic option for individuals who need early access to their retirement funds!

What are the rules for receiving 72(t) payments?

For those who wish to receive 72 (t) payments, there are several rules which must be considered. First, those receiving 72 (t) payments must take recurring annual distributions for either 5 years or until reaching age 59 ½ – whichever is longer.

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Risk warning: Digital asset trading is an emerging industry with bright prospects, but it also comes with huge risks as it is a new market. The risk is especially high in leveraged trading since leverage magnifies profits and amplifies risks at the same time. Please make sure you have a thorough understanding of the industry, the leveraged trading models, and the rules of trading before opening a position. Additionally, we strongly recommend that you identify your risk tolerance and only accept the risks you are willing to take. All trading involves risks, so you must be cautious when entering the market.

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