I have multiple IRA”s with different firms. Whe

L1: I have multiple IRA”s with different firms. WheI have multiple IRA’s with different firms. When I start my 72t next Jan, can I use the total of all for the 72t calculation or do I have to roll all the different IRA’s into one big one first? Jeff2004-10-14 20:21, By: Jeff, IP: [134.134.136.2]
L2: I have multiple IRA””s with different firms.Good morning Jeff:
I’m sure TheBadger or GFW will explain how you can structure several IRAs at different custodians into one SEPP plan.
My experience for simplicity … and I realy like things simple … is to either put all IRAs into one custodian for SEPP distribution and reporting purposes, or to let each custodian do the SEPP based on the amounts each has. If you use one custodian then you can change the investments easily if one fund family or stock or bond or whatever starts to underperform to your standards, or if you need to change investment strategies. Take a look at the discussion on Mobey’s question just before your original post and it might be useful to you.
I have a client who’s been taking SEPP distributions from two separate fund families for more than the required years and haven’t had a problem. Had to make a few changes within the families and life was good.
Good luck.
Jim2004-10-15 09:09, By: Jim, IP: [68.1.157.228]

L2: I have multiple IRA””s with different firms.It’s just a mater of keeping records. And since you will have multiple accounts with multiple Trustees/Custodians, the record keeping will become (and should be) yours. Keep the records as if you were planning on an audit even though you’ll probably never get one. In addition, you should also plan to file IRS Form 5329 with your 1040.
2004-10-15 14:13, By: gfw, IP: [172.16.1.70]