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IRS Says Transfer Results in a Modification of Stream of Substantially Equal Periodic Payments: PLR 200925044
RetirementDictionary! Link to more items from this source
[Guidance Overview]
July 6, 2009

Excerpt: [An IRA participant] asked the IRS to rule that: The partial transfer from IRA # 1 to IRA # 3 not be considered a modification [and] A proposed correction of reversing the partial transfer (that was made from IRA # 1 to IRA # 3) to IRA # 1, plus any applicable earnings, not be considered a modification. The IRS' Response[:] The IRS noted that the partial transfer ? which was nontaxable- was made before the end of the [series of substantially equal periodic payments] period, (the end would be after five years has elapsed since the inception or until age 59 ? , whichever is longer. You can use this calculator to determine the end-date of a [series of substantially equal periodic payments]). They further stated that the partial transfer resulted in a modification of the [series of substantially equal periodic payments], and added that the modification could not be corrected by reversing the transfer.

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