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Plan Adminstrators

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Byrrtndo

L1: Plan AdminstratorsI am 571/2 years old, unemployed, and need to tap into my IRA that is currently with Vanguard. I just read the article “IRS Audit, A Post Worth Keeping” and definitely do not want this to happen to me. Do you know of an administrator that is more 72(t) friendly that you could recommend? I would rather move my money than have to deal with the IRS. Thanks in advance.2010-01-23 19:48, By: rrtndo, IP: [69.119.9.61]
L2: Plan AdminstratorsIf you are trying to locate an IRA custodian that will issue the exception code on the 1099R, check with Chas Schwab. Last I knew they were providing the exception code, but things change so check this out carefully before transferring the account.I do not know what additional levels of support Schwab offers for 72t plans, so you might check that out also.Regardless, be sure you take charge of your own plan, double check the calculations and keep good documentation of your calculations, account balance etc.2010-01-23 21:10, By: Alan S., IP: [24.116.165.60]

L2: Plan AdminstratorsAs stated by Alan, your best bet is to keep good documentation and be prepared to justify your plan should you end up in an audit. Just getting a code of ‘2’ is no guarantee that there will be no audit.We are starting to build a list of helpful planning pointers so you may also want to check out this link.2010-01-24 10:50, By: Gfw, IP: [216.80.125.206]

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