Welcome! | Ask A Question

 
 
 
 
Question

Asked 1/19/2011

A bank made a mistake and gave me a 401k distribution check instead of a roll over. Opened new CD. Can I correct

The bank gave me the balance of a 401k CD as a cash check instead of a IRA transfer. In good faith I opened a "plain" CD. Now my 1099 for 2010 lists the proceeds as income. Can I correct this, even with a penalty and reopen the amount back into an IRA/ 401k ?

 
 
 
 
 
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)

 
What can i do when an employer doesn't return your money?

I worked for this company and had a 401k with them. i left their employ and they gave me a check for the 401k, which i then took to my bank and opened up a ira with them, well i thought that i did. i went to close it out to use the money for my son's college education and found out that the ira...

See Answers

 
401k loan rolled over

I rolled over my 401k and a 401k loan that was with my previous company which was sold last february 2010. i just recieved a 1099r for the loan amount but it was treated as a total distribution and it says the full amount is taxable. i am making payments out of my check each week on this loan amount...

See Answers

 
Can i receive profits made on a 401k after i roll it over

Can i roll over a 401k from a 21 year job i just resigned from and receive any monies it makes after i roll over the base amount?

See Answers

 
Related Questions

What can i do when an employer doesn't return your money?


I worked for this company and had a 401k with them. i left their employ and they gave me...

 

401k loan rolled over


I rolled over my 401k and a 401k loan that was with my previous company which was sold last...

 

Can i receive profits made on a 401k after i roll it over


Can i roll over a 401k from a 21 year job i just resigned from and receive any monies it makes...

 

401k distribution check


I was supposed to have my 401k check sent to me over 4 months ago but it was sent to my former...

 

401k early cash distribution


Dear sirs, my previous employer just closed my store down and terminated my employment. i...

 

I want to roll over my 401k from my old job. the broker from the old 401k says i can't. is this legal?


I've changed jobs and want to roll over my 401k from my old job to the 401k at my new...

 
 

See more 401k questions

 
 
 
 
 

Ask A Question

Ask a new question about
401k: