I have several IRA accounts. One with Bank A, another with Investment Company X and another with Investment Company Y. They are all traditional IRA’s. I am thinking of consolidating and I would like to transfer my IRA with Bank A to Investment Company X. I have a 72T Plan with Investment Company Y that started in March 2022 and will end in March 2027.

My questions or concerns are: Should I wait for my 72T Plan with Investment Company Y to end in March 2027 before I do the transfer of my IRA with Bank A to Investment Company X? Or I can do it anytime since the transfer will not involve the Investment Company Y from where I have my 72T Plan? I worry that it might trigger an audit of all of my IRA’s if I do a transfer while my 72T Plan is ongoing. Do you think it will trigger an audit if I do the transfer?

I understand that since it is a Trustee to Trustee transfer, this transaction will not be taxable, though I will receive a 1099R and a 5498 form, please confirm if this is correct.

I am looking forward to your prompt reply. Thank you and have a great day!