Welcome! | Ask A Question

 
 
 
 
Question

Asked 6/9/2008

401K Transfer

Hello,

I was recently laid off from my employer where I had a 401k. I was informed that my former employer must fill out and submit a"termination form" so I can can transfer or cash out my 401k funds. Are they legally obligated to do this?

 
 
 
 
 
Answers

Answer 1/3 - Submitted 6/9/2008

Yes, It's legally yours... but your obligated to follow the plans rules and IRS rules for roll-overs and distributions.

401(k) Resource Guide - Plan Participants - 401(k) Plan Overview
http://www.irs.gov/retirement/participant/article/ 0,,id=151753,00.html

Best of Luck!

 
 

Answer 2/3 - Submitted 6/10/2008

Yes, they should.

if they haven't talk to their HR dept

 
 

Answer 3/3 - Submitted 10/19/2008

Yes

 
 
 
 
Answer This Question Now

Type your Answer in the box below and post your answer.

Learn more about how this works

 
 
 

Related Questions (Ask a New Question)

 
Where to transfer a 401k into?

I was laid off a few months ago. i had a 401k with the company and will have to transfer it into another type of account. what are some good ideas of where to transfer my 401k? i do not have a new job and have been self employed as a freelance writer since being laid off.

See Answers

 
My wife wants to transfer money from her 401k to my 401k. does it make good business sense

My wife does not have the money to buy me out from the refinancing of the family home. she wants to transfer money into my 401k from her 401k. would that be wise to allow that to happen?

See Answers

 
15000 in a 401k 4000 of it is invested in company stock should i transfer funds into 1 going to cash in 401k in a couple of ...

Going to cash in 401k should i transfer stock portion

See Answers

 
Related Questions

Where to transfer a 401k into?


I was laid off a few months ago. i had a 401k with the company and will have to transfer it...

 

My wife wants to transfer money from her 401k to my 401k. does it make good business sense


My wife does not have the money to buy me out from the refinancing of the family home. she...

 
 

Can i transfer pension funds from the uk to a 401k in the us?


I have a stakeholder pension scheme in the uk. i was told that i could transfer it into a...

 

My current company is being sold, do i have to transfer my 401k from the old company into the new company?


My current company is being sold, do i have to transfer my 401k from the old company into...

 

Can i take my 401k with me?


My company is offering a 401k through morningstar with a small matching amount. i was wondering...

 
 

See more 401k questions

 
 
 
 
 

Ask A Question

Ask a new question about
401k: