No. of Recommendations: 0
I've successfully rolled over 3 previous employer's 401k accounts into my current rollover IRA. But this latest one has me somewhat challenged!

They sent me the involuntary distribution letter since the account fell a few cents below $5k. Fine. I filled out the forms with all the directions to go to my rollover IRA.

1. They ask for letter of authorization.
2. Fine. Rollover IRA custodian says 'account transfer form in' fills that requirement.
3. I fill that out. Now rollover custodian wants a copy of the paperwork I sent to 401k for distribution/rollover instructions. Not just the last account statement they requested and got with the transfer form.
4. I'm working on that now.

Meanwhile 401k custodian says if they don't get everything in about 30 more days, they will issue check to me with taxes withheld. What can I do in that case?

Can't I just write check for the full amount (including what taxes were withheld) and send to rollover IRA custodian with my distribution documentation? Then it will come clear next year when submitting this years tax return?
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.