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IRA Transfers with 72(t) Schedules

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ByKP

L1: IRA Transfers with 72(t) SchedulesBACKGROUND: Client has 5 separate IRA accounts with Custodian A. He used the value of all 5 IRAs in the original 72(t) calculation and elected to take the withdrawal from one IRA account. Now client wants to transfer all 5 IRAs, which will be a 100% transfer, to Custodian B. Wants to alsoconsolidate all 5 IRAs into one, will be opening up one IRA at Custodian B and will resume his 72(t) schedule. QUESTIONS: First of all, I presume since this is a 100% transfer, this is permissible under Revenue Ruling 2002-62 and secondly, can the client consolidate all 5 IRAs into one account with Custodian B? Please advise2003-03-31 12:29, By: KP, IP: [127.0.0.1]
L2: IRA Transfers with 72(t) SchedulesAnswers to both, I see no problem – just keep good documentation of all the transactions.
2003-03-31 12:48, By: Gfw, IP: [127.0.0.1]

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