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Two 72t distributions & calculations

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ByFrank

L1: Two 72t distributions & calculationsA55 yr old person is taking a 72t distribution from an IRA for the last 3 years and has 4 1/2 years before that distribution can be increased. The calculation of the payment was originally done using only one of three IRA’s that were available. The payments are being made from that IRA.
Can this person do another calculation to begin payments from the IRA’s that were not included in the original calculation? This payment, if allowed, would have to be made for 5 years.
In other words can there exist 2 payments calculated separately from different IRA’s. Thanks2006-03-06 14:39, By: Frank, IP: [70.249.209.27]

L2: Two 72t distributions & calculationsYes.
You may have as many SEPP Plans running as you need, so long as each SEPP universe is unique. The universe may consist of a single IRA account or multiple IRA accounts.
In your case it sounds like you are just getting ready to start a second SEPP Plan using another IRA account, which is perfectly fine.
Jim2006-03-06 15:10, By: Jim, IP: [70.184.1.35]

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