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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: rollover waiting Date: 10/8/1998 10:37 AM
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Greetings, singlenlucky, and welcome. You asked:

i have 8k in a 401k.
in may of 1998, my company sold 60% of there busniess to another firm. they had issued us a new 401k(fidelity).. in june my company had frozen the old 401k. (and is waiting for a response from the irs)
my question is this.. is there a time limit on how long this account can be frozen.
also, will i be able to put this money in my fidelity account..


It sounds as if your company has asked for a letter of determination from the IRS that the old 401k plan is tax-qualified to ensure its assets may legitimately be transferred to the new plan and/or IRAs. In the interim, the old plan has been frozen, meaning no new contributions may be made. This process can take up to a year or longer. There is no specified time period. In theory, the assets can be frozen until you reach the mandatory distribution point of age 70 1/2. The best folks to answer your question are your benefits administrators/Human Resources people.

Regards....Pixy
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