creating separate accounts at one institution ok?

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L1: creating separate accounts at one institution ok?
Hi – I have 900,000 in one IRA account at Vanguard. Can I transfer half of that into a separate account (450,000) (with Vanguard) and use that for my 72T? I would prefer to stay with one company but am not sure if that violates any IRS rules. I only need income from half of the money until I turn 59 and 1/2.
Thanks for your help on this – My DOB is 9/1/62 -Planning on first distribution this year
2018-01-16 02:25, By: chelsea, IP: [23.124.27.133]

L2: creating separate accounts at one institution ok?
DEFINITELY OK, and usually preferable to having to deal with 2 firms.
However, instead of splitting it 50/50, we suggest that you use the “reverse calculator” on this website to determine the MINIMUM amount that you will need in the IRA account used for the SEPP, and allowing you to leave the balance in the separate account for additional future SEPP accounts, or occaissional emergency needs. This will limit the possibility of busting your plan at some time in the future, and limit any 10% penalty to only any emergency funds taken.
2018-01-16 02:42, By: dlzallestaxes, IP: [173.75.252.16]