I recently started a new job. Both my previous and current employers offer 401k plans, so I applied to my previous employer for a check to rollover into my current employer's plan.Part of my current employer's rollover process involves getting a form signed by the 401k admin at my previous employer that testifies that the plan has received a favorable IRS determination/notification/opinion confirming its tax-qualified status under the Tax Reform Act of 1986.My previous employer is a Delaware corporation that was established in March 1995. It does not have an IRS determination for its 401k plan, though one is pending.My new employer's benefit department is refusing to take the rollover check until my previous employer can confirm a favourable IRS determination. So, I'm stuck with a worthless 401k rollover check (it took 6 months of unbelievable bureacracy to get this far, so I'm more than a little upset)I have a letter from my previous employer that confirms that the 401k plan is intended to be a qualified plan and is maintained and operated in accordance with the requirements of 401(a) and 501(a) of the Internal Revenue Code.Will this letter do? Is it reall a 'hard' requirement that this IRS opinion be available before the money can be rolled over? If not, what other options are available?Thanks,Digerati
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