- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Retirement tax questions
What kind of account is the trust? Is it still in the 401K? Did you get any 1099R tax forms when they sent the 401K to the Chase trust? You have to ask the Trust account how to move it if it is possible and how to take a withdrawal. And ask your new employer if they will accept the funds.
If you take a withdrawal it will be taxable and may push you into a higher tax bracket. And a 10% early withdrawal penalty if you are under 59 1/2.
You will get a 1099R if you rollover and maybe a separate 1099R for a withdrawal.
‎August 30, 2023
6:40 PM