The Investment Bank told him that since he was no longer employed there, that it was his to withdraw and it would not be subject to the 10% penalty. I was not so sure, so just want to check with others. On the Confirmation, they listed the transaction type as Employment Termination and we had Federal and State Taxes withheld. I am wondering if the Distribution Code on the 1099-R is potentially incorrect? Interested in others thoughts.
