A multi stage strategy, which allows forming of SPIF parts with vertical walls, is investigated with emphasis on strain paths and fracture strains. Whereas downwards movement of the tool pin results in deformation close to plane strain upwards moving tool results in biaxial strains. A good correlation is observed between numerical simulation and experiments for the three first stages of forming. Surface strains in the first stage show deformation to be stretching. Strain paths are far from straight except for the first stage of forming. A fracture line with a slope of -1 in the principle strain space is in good agreement with measured strains with and without fracture.