L1: Aggregate accounts?Good point about the sepeation of accounts. Next question, and this is not clear in the regs, can we aggregate the selected 72t IRA accounts and take the distribution from one account to satisfy the requirement, or does the distribution need to be made out of each one? 2009-06-11 15:34, By: Steve, IP: [18.104.22.168]
L2: Aggregate accounts?You do not have to do anything other than keep your own record of which account numbers are the basis for your “SEPP 72-T UNIVERSE”, and their respective balances used in your calculation of the annual SEPP distribution amount. There is no such thing as a “SEPP 72-T IRA ACCOUNT” per se anywhere except in your privately kept documents, unless you choose to identify the accounts and balances you used in a footnote to your tax return to “memorialize” with the IRSyour basis for the SEPP.
As with all IRA distributions, you can takeSEPP distributionsfrom any one or more account, or from all accounts designated as your SEPP acount(s).2009-06-11 19:26, By: dlzallestaxes, IP: [22.214.171.124]