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72t change

L1: 72t changeI have 2 IRRA”s of equal size of which I take an equal72t withdrawal monthly from each one. Ihave been withdrawing from each for about1 1/2 years. I would like to take the 1 time, irrevocablechange back to the RMD method from 1 of them. I realize I will have to go back and pay the 10% penaly if I do. Is this doable?2008-01-02 08:39, By: Billy Boy, IP: [70.63.55.82]
L2: 72t changeI think more info is needed. If you setup one SEPP 72t plan using the two IRAs for the combined $$ basis, then I have to assume the RMD calc and changemust be recalculated for the new RMD from the combined total of both IRAs, and if so, I believe you have to recalculate it (the RMD) each new year going forward. If two separate plans were established, independent of one another, then you should be able to do what you want to do with one of them. Dig out the paperwork you filed to set these up, and let us know.One more thing.. a change to RMD method is allowed one time (and it must be left with that method once it is changed) during a SEPP plan and there is no retroactive 10% penalty, but I cannot recall if you had to list this (change to RMD) as a possible option when you filed your original SEPP with the custodian in order for that to be true. Others can clarify.KEN2008-01-02 09:20, By: Ken, IP: [75.67.65.254]

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