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Multiple Ira withdrawls/rollovers

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Last Updated On
Bycar-tows

L1: Multiple Ira withdrawls/rolloversDear 72T,
Thanks for your site that assisted meto beginmy first72T SEPP this month.
I alsohold seperately,multiple non-SEPPIRA”s witha different singleinstitution. Am I correct that I may withdraw funds for up to 60 days from IRA 1 and redeposit/rollover the funds, then do the same with IRA2 within the365 daysof the IRA 1 rollover,without any negative 365 rule impact.
Thanks, Bob

2006-09-26 12:24, By: car-tows, IP: [72.86.9.16]

L2: Multiple Ira withdrawls/rolloversBob,
Yes, you can do that. Just don”t roll an IRA distribution from #1 into #2 or another IRA that you also take a distribution from that you intend to roll over. #1 back into #1 and #2 back into #2 is OK, but NOT #1 into #2 and then #2 into any other account. And definitely do NOT roll anything into your SEPP designated account unless it is from another SEPP designated account.2006-09-26 22:05, By: Alan S., IP: [24.116.68.91]

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