72T
Current client has an IRA with another advisor. The IRA has a 72t distribution that goes straight to his checking account. He transferred the IRA to our firm and would like the 72t distribution to go into a non IRA account. Is this permissible or is it looked at as some type of change to the original set up? Thanks
Permalink Submitted by Alan - IRA critic on Wed, 2019-05-29 18:25
That would not affect the 72t plan. It does not matter where the money is deposited, but the 1099R forms for the transfer year must total to the exact 72t calculation.