UnThreaded | Threaded | Whole Thread (4) | Ignore Thread Prev | Next
Author: TMFPixy Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 79111  
Subject: Re: 403(b) Plan Change -- Can You Rollover? Date: 7/9/1999 7:36 AM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
Mcadoo 11 sez:

<<The squeaky wheel sometimes gets the grease. They let me rollover into an IRA after constant complaining. Isn't that interesting?>>

Very. I also find it most bothersome in that you didn't leave the job and the plan itself wasn't terminated. Accordingly, a distribution from that plan (and a transfer to an IRA is a distribution)really isn't allowed or considered a qualified distribution. I just hope that later on the IRS doesn't challenge you, disallow the transfer, and assess you taxes, an early withdrawal penalty, and a penalty for failure to pay taxes on the distribution when it occurred.

While there's little likelihood the IRS will discover what happened (assuming the old plan administrator codes your 1099R correctly), you should be aware that possibility exists so you won't be surprised if and when that event occurs.

Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (4) | Ignore Thread Prev | Next


The Retire Early Home Page
Discussion on accelerating retirement day.
Foolanthropy 2015!
Fistula Foundation: A World of Good!
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.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
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.