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The W-4P is either used to make it zero or 10% withholding applies.  We provide the W-4P with our distribution forms, so it is just not a big deal.

Lawrence C. Starr, FLMI, CLU, CEBS, CPC, ChFC, EA, ATA, QPFC
President
Qualified Plan Consultants, Inc.
46 Daggett Drive
West Springfield, MA 01089
413-736-2066
larrystarr@qpc-inc.com

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We have an election on our forms, either "no withholding" or a % or amount, with a note that if nothing is elected it will be based on current tables.  Rarely or never had to look it up...I think 10% is only up to a certain amount but since I rarely or never had to look it up, don't know for sure. ?

Ed Snyder

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On 12/14/2018 at 3:05 PM, Bird said:

We have an election on our forms, either "no withholding" or a % or amount, with a note that if nothing is elected it will be based on current tables.  Rarely or never had to look it up...I think 10% is only up to a certain amount but since I rarely or never had to look it up, don't know for sure. ?

You are right. It's either zero, or at least 10% for non-periodic distributions.

Life and Death Planning for Retirement Benefits by Natalie B. Choate
https://www.ataxplan.com/life-and-death-planning-for-retirement-benefits/

www.DeniseAppleby.com

 

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