Have IRAs that were 401ks now invested with Financial Planner. Been receiving monthly 'dividend' check from account. Do I need to file papers or anything at age 59 to take advantage of 59 1/2 withdrawals without 10% penalty?
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You should not have to complete any special forms. Your financial establishment will know how old you are and should report the transaction to the IRS as a 59 1/2 withdrawal. Each type of withdrawal has it's own special code. -
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