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IRS reg

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Byannuitynerd

L1: IRS reg: move existing 72t dist to new company??I have a client who asked the following:
“I am in my second year of a 72t distribution. I want to move my IRA from my current brokerage house to a new one. Can this transfer be done without jeopardizing my penalty fee 72t distributions?
The brokers all say it is ok to do but will not back up their statement with any guarantee, can you provide the IRS regulation that talks about my situation.
My search continues but my question is critical to a possible move and I better be sure it’s possible in the first place before I waste alot of time.”
– Any insight would be appreciated.
2005-12-13 17:33, By: annuitynerd, IP: [216.201.153.196]

L2: IRS reg: move existing 72t dist to new company??Hello annuitynerd:
The authority is:
1. For a trustee-to-trustee transfer; Revenue Ruling 78-406 (1978-2 CB 157).
2. For a rollover; IRC 408(d)(3)(A).
TheBadger
wjstecker@wispertel.net
2005-12-13 17:45, By: TheBadger, IP: [66.250.23.21]

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