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2 IRA”s

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Byangie

L1: 2 IRA”sIs it possible to have my IRA split between 2 different banks/investment houses?
(I am 57 drawing on my 72T.) Without having to withdraw and paytaxes and penalties? The cash moved will not affect my 72T.
Thanks2004-05-26 16:42, By: angie, IP: [68.56.211.3]

L2: 2 IRA””sShould be no problem – just remember that the assets are still part of the SEPP even though they are in different places.
However, since neither Trustee/Custodianholds 100% of the assets, they may code the 1099 with a code other than ‘2’.
This really isn’t a problem as the IRS has a form that can be filed with your return claiming the exemption to the 10% penalty. Just keep a good paper trail 2004-05-26 17:20, By: Gfw, IP: [172.16.1.71]

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