Archive for the ‘SEP IRA Withdrawals’ Category
Posted in 
Tags: 
Sep Ira Distribution Penalty
October 15th, 2009
Question: How do I take my distribution out of IRA account with out paying penalty?
I am a sole-proprietor of a small business corporation (applied for S-corporation election for 2006). I have made a Contribution to business retirement account for 2006. After making the Contribution, I realized that S-corporations can not make contributions to SEP-IRA.
Now I have to take the distribution out of my IRA. Is there any way to do this with out getting fined by IRS for early withdrawal.
-thanks
Answer: If it shouldn’t be there to begin with, you will only get penalized if you don’t take it out.
Giro pelo Caldeirão – Vasco 1×0 Duque de Caxias