2 small distributions from 401k’s
Client received 2 small distributions from prior employers 401k plans. No withholding. Can both of these distributions be rolled over to an IRA account? We are within the 60 day window.
Thanks
Client received 2 small distributions from prior employers 401k plans. No withholding. Can both of these distributions be rolled over to an IRA account? We are within the 60 day window.
Thanks
Permalink Submitted by Alan Spross on Thu, 2010-04-22 20:58
Yes, they can both be rolled over within 60 days of receipt. How is it that there was no withholding? Are you sure that these were not direct rollover checks made out to the IRA custodian, but just mailed to the client to forward? Or perhaps each one was less than $200, which would make them exempt from withholding.