Transfer $”s on Sepp account

L1: Transfer $”s on Sepp accountIf you have a 72t distribution set up on an account can you transfer some of the money from that account and set up another ira and then initiate another distribution from that new account. In reading through some earlier posts I got the impression that you might be able to this.2004-10-17 12:12, By: Sam, IP: [69.29.175.3]
L2: Transfer $””s on Sepp accountYour post isn’t 100% clear. Funds used to establish a SEPP are always part of the SEPP.
If you are asking if you can transfer a portion of the SEPP assets to different IRA, take payments from the 2nd IRA, the answer is yes as long as you reduce the payments from the 1st IRA by the equivalent amount – the toal payment may not change.
If you are asking if you can transfer a portion of the assets to a 2nd IRA and recalculate a new payment, the answer is just plain NO.
2004-10-17 13:37, By: Gfw, IP: [172.16.1.70]

L2: Transfer $””s on Sepp accountThanks, you answered the question. In an earlier post it was said you can control the funds and move part of funds to another IRA. I just took it one step too far. Thought maybe you can create a new distribution. After I posted I realized that the new IRA was still part of the SEPP and that you can create one SEPP over multiple IRA accounts. Realize the error of my ways now.
Thanks.2004-10-17 16:11, By: Sam, IP: [69.29.175.3]