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account balances

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ByBrendan

L1: account balancesI have 6 different IRA accounts and I want to setup a 72t distribution. I would like to withdrawal from 4 accounts only and leave the other 2 in tact. Should I include all 6 account balances in my 12/31 computation or just include the 4 accounts I will be withdrawaling from?
If this were an RMD instead of 72t,I would have to include all 6 balances, but what about 72t? What do the 72t regulations require?
Thanks in advance.2004-01-07 15:53, By: Brendan, IP: [63.140.86.109]

L2: account balancesUsing 4 of the 6 accounts should present no problem. The key is to document your plan and then follow the plan. However, if you will only be using4 of the accounts, then only the balances from those 4 accounts should be used to determine the SEPP payment.
Keep account statements from all 6 accounts, but especially the 4 that you allocate to the plan.
2004-01-07 16:11, By: Gfw, IP: [172.16.1.70]

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