401k to IRA and ditributions

L1: 401k to IRA and ditributionswhen transferring from a 401k to 2 IRA(s), will there be any timing IRS restriction on immediate distributions from the new IRA’s as follows:
1)in first monthafter 401K transfer, start 72t in IRA 1 and receive 1st distribution.
2)few days after 401k transfer to IRA 2,take early distribution for higher education/medical expenses.
3) in both cases withholding tax % s/b determined by myself, instead of mandatory 20% if taken directlyfrom my 401K?
Thanks again,
Bob2004-12-09 11:46, By: cartows, IP: [141.152.222.198]

L2: 401k to IRA and ditributionsHello Bob:
I suggest you elect to perform a “trustee-to-trustee” transfer from the 401(k) into the IRAs; that way no tax is withheld. Then commence your distributions as you have described & all will be fine.
TheBadger
wjstecker@wispertel.net
2004-12-09 11:54, By: TheBadger, IP: [66.250.23.21]