Age 59 1/2 distribution

[Fisher]

If someone processes a request for distribution from their IRA a few days prior to turning age 59 1/2, does that mean there could be a 10% penalty or does the date of receipt of the funds mark the date if not received until after 59 1/2?

[GMK]

From a previous thread (can't find it right now), you are under age 59-1/2 through the day before you turn 59-1/2.

edit to add: 72(t)(2)(A)(i):

http://www.section72.com/html/72_t_.html

[masteff]

And you'll note if you read 72(t) carefully, that it's neither the date of request nor of receipt, but rather the date of distribution that matters.

[ETA Consulting LLC]

I would say the 6 months after the 59th birthday. I wouldn't count days. I would use the regulation on determining when a person turns age 70 1/2 has a reference in determining when the 1/2 year occurs; just for consistency.