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72t distribution one time change

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ByBob

L1: 72t distribution one time changeI am taking 72t distrib. from two IRA’s using the annuity method. Can I switch just one of those to the RMD method?2004-06-23 12:10, By: bob, IP: [207.69.140.21]
L2: 72t distribution one time changeHello Bob:
It is the PLAN the changes from an old method to the RMD method; not the IRA(s) underlying the plan. Therefore, if you have two plans, you may switch one of them to the RMD method and leave the second plan unchanged. Conversely, if you have one plan supoorted by two IRA accounts, then may only switch switch once.
TheBadger
wjstecker@wispertel.net
2004-06-23 13:42, By: TheBadger, IP: [66.250.23.21]

L2: 72t distribution one time changeWhat do you mean by “plan”.I don’t believe I have any documents setting up the 72t distributions. We just used the sum of the two Ira’s at the time(five years ago).
Thanks.2004-06-23 13:56, By: bob, IP: [207.69.140.32]

L2: 72t distribution one time changeHello Bob:
Even though you have no documents which established the plan, you should have had them. By your mention that you created the plan “using the sum of the two IRAs” indicates to me that you have one plan; therefore only one conversion to the RMD method will be allowed.
TheBadger
wjstecker@wispertel.net
2004-06-23 14:05, By: TheBadger, IP: [66.250.23.21]

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