Substantially Equal Periodic Payments. You are not subject to the additional 10 percent early distribution penalty tax if you are taking a series of substantially equal periodic payments (at least annual payments) over your life expectancy or the joint life expectancy of you and your beneficiary. You must continue these payments for the longer of five years or until you reach age 59½.
Appears in 19 contracts
Sources: Roth Individual Retirement Custodial Account Agreement, Roth Ira Account Application & Agreement, Customer Account Agreement