No. of Recommendations: 0
<< when you say put into an ira without tax withheld i'm not exactly clear on how that works. >>

If the plan cuts a check to you, they will withhold 20% for Federal income tax. If you want to do a rollover, you'll have to come up with the cash to replace the withholding for deposit in the IRA. If the 401(k) transfers the money directly to the IRA custodian, or physically through you by a check made payable to the IRA custodian "FBO" you, there's no withholding required.

Your chosen IRA custodian can assist you in completing the transfer.

Phil Marti
Print the post  


The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.