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Switching Custodians

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ByRockOn

L1: Switching CustodiansHas it been definitively concluded that switching custodians by doing a complete “custodian to custodiantransfer” of an existing 72T or 72Q account does not bust the plan?2008-02-01 19:12, By: RockOn, IP: [75.71.154.228]
L2: Switching CustodiansRockOn,
Check out the question from Jenniferprofit on 1/25/08 and Alan S”s answer, which just covered this topic. Ken2008-02-01 20:30, By: Ken, IP: [75.67.65.254]

L2: Switching CustodiansThanks for the reply Ken, I was aware how Alan S anwered that previous inquiry.
My question relates back a few months, to the time the PLR was issued which raised questions about whether tansfers busted the plan. At that time a letter was written to the IRS that went basically unanswered. Has the IRS provided any guidance recently which confirmsthat complete transfers are acceptable?2008-02-01 21:05, By: RockOn, IP: [75.71.154.228]

L2: Switching CustodiansRockOn,
For more info about this topic, which was a hot one in the summer and early fall, read these older postings:
from Bill 9/14/07
from TheBadger 8/28/07
and check out the entire article that Gordon posted on this site for TheBagder with more detail on this subject:
http://72t.net/Articles/ArticleShow.aspx?WA=260
To see older postings, change (at top of discuission) to “show all records” and chg “# of Months” to 8 and you will be able to scroll down to see these entries without going “page by page”.
Ken
2008-02-02 06:42, By: Ken, IP: [75.67.65.254]

L2: Switching CustodiansThanks, I re-read the info that you referenced. Unless I am wrong,we think it is ok to do 100% custodian to custodian transfers (as long as everything remains the same) but the IRS has notprovided definitive guidance on this issue.2008-02-02 12:56, By: RockOn, IP: [75.71.154.228]

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