Submitted by iguesswhatevs t3_11ec2gd in personalfinance
iguesswhatevs OP t1_jad7e8c wrote
Reply to comment by nothlit in Just got my check from former employer closing my 401k account by iguesswhatevs
So what you’re saying is that 21% federal income tax PLUS 10% withdrawal fee?
nothlit t1_jad8c8k wrote
You would pay 10% additional tax on the amount that was withheld and not rolled over
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