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Level 4
posted Mar 24, 2021 4:17:25 PM

What to do with a de minimis $0.09 distribution check from a 401k

I did a direct rollover of my entire 401k to my personal IRA as I changed jobs.  Subsequently I received a check for $0.09 cents (cash dividend) from the 401k custodian.  I am aware that I should forward the check to my IRA within 60days, but 9 cents?  Should I bother forwarding this check to my IRA custodian or can I just toss it?  If I toss it, do I have to report 9 cents in my tax return as a retirement distribution?  Seems like such a waste of time - even writing about it here!  Tax program may round this to zero and throw an error during the accuracy check.  I am neither retired nor at a retirement age.  Perhaps a better question to ask is what is the easiest approach?  TIA.

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1 Best answer
Level 12
Mar 24, 2021 4:26:24 PM

Doesn't come close to rounding up to a dollar so forget about it.

1 Replies
Level 12
Mar 24, 2021 4:26:24 PM

Doesn't come close to rounding up to a dollar so forget about it.