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Author: TMFPixy Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 74759  
Subject: Re: 3 1/2 months and counting Date: 4/12/2000 9:21 AM
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Greetings, Bob, and welcome. You asked:

<<If I open ...4 rollover IRA's say at Fidelity, Vanguard, Janus, and my self directed account at Ameritrade, and designate a percentage of the proceeds
to each account does this give me an advantage regarding SEPP's...can I initiate SEPP's from the different accounts, at different times. I may need
a little in terms of a SEPP, or I may need a bit more than I thought. Are SEPPS figured per account until
59 1/2 or 5 yrs. OR are they figured on your total
rollover amount regardless of disposition?

I thought this might allow me to tap one account to supplement my after tax funds..if needed..and if later
I find I need a bit more...I could initiate SEPP's
from a second account. I'm 50 and I have 9 1/2 yrs
to consider...this will allow me to incrementally
withdraw smaller amounts if needed rather than drawing
from the whole enchilada.....will it fly??? >>


It's an excellent way to handle SEPP, and it's perfectly legal. As you pointed out, it provides a great way to have flexibility in withdrawals. Just bear in mind that the five-year or age 59 1/2 withdrawal requirement will run separately for each IRA. That means that if at age 57 you decide to tap into another IRA, SEPP from that IRA must continue untl age 62.

Regards..Pixy
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