401K rollover

L1: 401K rollover Can I roll over my 401K to an IRA, split out some of the amount into a separate IRA and make only that portion a 72t distribution. Specifically, I have $1,000,000 about to be rolled over, I would like to take $500,000 and distribute that amount over 5 years to myself but leave the other $500,000 in the tax defrerred IRA. Can I accomplish this by rolling the $1,000,000 into IRA Account A then open an IRA account B, transfer the $500,000 to account B and begin a five year distribution plan that would not subject the second plan B $500,000 to the early withdrawal penalty??2003-10-26 23:29, By: Bob, IP: [127.0.0.1]
L2: 401K rollover Hello Bob:
You have it exactly right.
TheBadger
wjstecker@wispertel.net
2003-10-27 07:11, By: TheBadger, IP: [127.0.0.1]

L2: 401K rollover >>I would like to take $500,000 and distribute that amount over 5 yearsWhile you can divide the funds into one or more accounts, if you only allocate 500,000 to the SEPP, then the annual distribution must be calculated basedon the $500,000 – you can’t just pay out the $500,000 over 5-years – the distribution must be based on one of the 3 acceptable methods outlined in 2002-622003-10-27 07:44, By: Gfw, IP: [127.0.0.1]