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Partial rollover of existing 72t IRA

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ByJerry

L1: Partial rollover of existing 72t IRAI currently have an existing IRA from which I have been taking 72t withdrawals.
I want to move $50,000 from this IRA to a new rollover IRA and invest in some new things.
Is this permitted? Are there restrictions on rolling over from an IRA that is already involved with 72t?
Thanks in advance.
Jerry

2007-06-26 16:18, By: Jerry, IP: [68.13.1.58]

L2: Partial rollover of existing 72t IRAWell, up to very recently the consensus was that these transfers did not change the SEPP universe and were therefore notmodification. But a couple months ago PLR 2007 20023 ruled a partial transfer as a modification, and it”s not real clear where we are with a total transfer now either. Until this issue gets resolved with more certainty, I recommend that you do NOT make the transfer. It simply is not worth the risk of busting your SEPP plan or worrying when the other shoe drops. Stay tuned for further developments and clarification of this issue. I imagine that there are a several thousand taxpayers in limbo now, many of whom probably are not even aware of the recent ruling.2007-06-26 18:02, By: Alan S., IP: [24.116.66.98]

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