Transfer my IRA
L1: Transfer my IRAI currently have a 72t plan on my IRA which is held at American Funds. I can only invest or transfer between American Funds.
I would like to transfer the IRA to Edward Jones in order to gain more flexibility.
My 72t plan is in its 6th year, and I turn 59 1/2 in one more year.
Will I bust the 72t if I transfer the 72t to Edward Jones?2017-07-20 21:33, By: dpantle, IP: [22.214.171.124]
L2: Transfer my IRAA total transfer (not partial) will not bust the plan, but for the year the transfer is done it would be best to have completed your annual 72t distribution from the first IRA so that you will not receive multiple 1099R forms for that year and have to add them up when you complete Form 5329. Just less for the IRS to look at. For 2018 you will have 3 options for 72t distributions prior to reaching 59.5. You can distribute nothing, a pro rated amount by the month, or the full annual distribution. That means you could actually complete your 72t plan without having to take a 72t distribution from the EJ account if you did not need the funds before 59.5. Either way, be sure EJ understands that your IRA there is subject to a 72t plan until you reach 59.5. They probably do not understand your final year distribution options stated above, so you will need to expend some extra effort to make sure your plan is completed within the rules.2017-07-20 21:53, By: Alan S, IP: [126.96.36.199]
L3: Transfer my IRAOK. The combined distribution element would definitely be something to pay attention to. I take it monthly. Much less problem for me would be the combined 1099’s. Just have to be sure I equal my yearly distribution in total. Sounds to me that it would just be less of a hassle to manage after Jan 1. Since my wife has recently retired, I would probably just request the normal distribution for 2018.2017-07-20 22:36, By: Transfer my IRA, IP: [188.8.131.52]
L4: Transfer my IRAIf you do transfer your IRA investments, make sure that you do an electronic trustee-to-trustee transfer. Also, if you are not happy with your American Fund investments, you can have all of them sold by American Funds (no tax consequences within an IRA). Then you could have the cash transferred electronically to EJ, and then buy whatever investments you want at EJ.2017-07-22 15:38, By: dlzallestaxes, IP: [184.108.40.206]