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401k transfer to split IRA””s

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Bycartow

L1: 401k transfer to split IRA””sI””m planning to transfer my 401k into two different ira””s by year end.One IRA has a small existing netbalance as a result of early withdrawls being taken this year and prior years, subject to the 10% penalty. The second IRA would benew. I plan to start a 72t SEPP in Jan or Feb 2005 out ofmy original IRA which would have a new combined balance of 401Krollover principal and net remainderbalance of theIRA held with amutual fund broker. Would there be any negative effect with the IRS due to myprior activity ofnon-sepp withdrawls in prior years for this IRA, once I start the SEPP in 2005. Also, in the event I require more income than the SEPP annual distribution, will early non-sepp distributions from the 2nd new IRA have any impact on theestablished SEPP IRA? Lastly, I will be 52 in Sept 2005, do I use 52 or 51 for my age in SEPP calculator?
Thank you,
Bob2004-11-29 18:42, By: Cartow, IP: [151.199.177.19]

L2: 401k transfer to split IRA””sHello Bob:
Your plan is fine in every way as long as meets your needs. Because your situation is a little complex, documentation is critical. Therefore document everything.
TheBadger
wjstecker@wispertel.net
2004-11-29 18:55, By: TheBadger, IP: [66.250.23.22]

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