72t from 401k transfer later to IRA?

L1: 72t from 401k transfer later to IRA?Can I take a 72t from my 401k and later transfer it to an IRA? Also, can I take the money quarterly and then later change it to monthly as long as the annual amount stays the same?2003-02-24 01:17, By: bonusmon, IP: [127.0.0.1]
L2: 72t from 401k transfer later to IRA?Hello bonusmon:
The answers are Yes & Yes.
TheBadger
wjstecker@wispertel.net

2003-02-24 11:13, By: TheBadger, IP: [127.0.0.1]

L2: 72t from 401k transfer later to IRA?Thanks for the info Badger. One other question. Do I have to report the start of a 72t to the IRS? What form would I use or do I just do it and only worry if the IRS questions it or does a audit? Thanks again.2003-02-24 11:28, By: bonusmon, IP: [127.0.0.1]

L2: 72t from 401k transfer later to IRA?Hello bonusmon:
You report nothing to the IRS; however, I would strongly encourage you to self-document your plan so you have later documentation should the IRS ever ask. Then, once a year, your trustee will send you a 1099R for the distribution amount. This is reported on your personal 1040, line 15. Further, your 1099R should have a reason code of “2” in it. If it does not, you would also need to file Form 5329 with your 1040.
TheBadger
wjstecker@wispertel.net
2003-02-24 11:38, By: TheBadger, IP: [127.0.0.1]