72T IRA rollover to combine two IRAs

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L1: 72T IRA rollover to combine two IRAsI turned 59 1/2 in April, and my 72T was well over the minimum five years last October. I’ve been taking a 72T distribution from two IRAs the entire time. Since I’ve fulfilled the requirements of 72T regulations, am I now permitted to roll one IRA into the other for simplicity’s sake?
I continue to take the SEPP payments anyway, but may stop them completely in the next month or two.
Thank you for any and all answers.2012-08-03 03:47, By: rpmdbs, IP: []

L2: 72T IRA rollover to combine two IRAsYes, you can combine them once you are sure that your modification date has passed. Just to avoid the chances of an IRS inquiry, I suggest combining by direct trustee transfer rather than a rollover. That will eliminate having to report a rollover for your final 72t year.
You did not ask, but assuming that you took out at least 60 months of SEPP distributions through 12/2011, then 2012 was your final year. Prior to the month you reached 59.5 you could have taken out any of the following:
1) Nothing
2) Pro rate of the annual amount based on # of months
3) A full annual amount
If you took out a different amount than the above options, you may have a problem since a different amount would not meet the requirements for a SEPP distribution. After the date you reached 59.5 you can do anything you wish. Usually, your IRA custodian will issue two 1099R forms if you took distributions before 59.5 and after (Codes 1 and 7 respectively)(some may still use Code 2 instead of 1).
Whether you had one SEPP plan using two IRAs OR two independent plans each using one IRA, the above comments would still apply.2012-08-03 18:09, By: Alan S., IP: []

L3: 72T IRA rollover to combine two IRAsYes, at age 59 1/2, this past April, I also completed over 8.5 years of SEPP payments, so the 60 month minimum was more than fulfilled.
Since the age criteria was just fulfilled this year in April, and from what I’ve read above, you suggest a direct trustee transfer, correct? Both of my IRAs are within the same financial institution, i.e. TDAmeritrade. I’ll contact them next week. Thanks for your answer.2012-08-04 06:03, By: rpmdbs, IP: []

L4: 72T IRA rollover to combine two IRAsYes, that is correct.2012-08-04 23:41, By: Alan S, IP: []