401k Withdrawl at 55


B

Billy

Confusing to me, if a person leaves a job at 55, can he take his 401K funds
without penalty? Does the plan administrator have to code the 1099
differently? Where is good, clear explanation on this problem?

tks all

bill


========================================= MODERATOR'S COMMENT:
Yes, see page 30 of http://www.irs.gov/pub/irs-pdf/p4302.pdf
When this applies, the plan administrator should code box 7 of form 1099R
as 2 until you reach age 59 1/2
 
Ad

Advertisements


Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments. After that, you can post your question and our members will help you out.

Ask a Question

Top