setting up a 72t account

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L1: setting up a 72t accountI am getting different information. To set up a 72t account do I switch it to a sepp? Can I have individual stocks, cd’s and bonds in the account? Can any brokerage company handle a qualified 72t account? Thanks for the help.
2005-04-24 14:00, By: Don, IP: [69.136.235.184]

L2: setting up a 72t accountHello Don:
I don’t know who is wispering in your ear; but, an IRA, is an IRA, is an IRA. They are all the same. There is no such thing as a “72t account”. Instead, you might elect to commence distributions from one (or more than one) of your IRAs and in order to avoid the 10% surtax on those distribtions, you might elect to use “substantially equal periodic payments” (thus the term SEPP).
The actual contents of the IRA are entirely up to you and in no way does having a SEPP plan in place on an IRA retrict your investment alternatives. Lastly, most any brokerage company can correctly handle all of the above.
TheBadger
wjstecker@wispertel.net
2005-04-24 14:59, By: TheBadger, IP: [66.250.23.21]