Required Federal Income Tax Withholdings from 401k Distributions
The IRS has various rules related to income tax withholding from 401k distributions. The most common rule is the minimum 20% that is required to be withheld from eligible rollover distributions....
View ArticleRetirement Plan Considerations for Terminated Employees
When facing the unfortunate circumstance of employee resignations and retirements or having to terminate or layoff employees, companies should be aware of certain retirement plan considerations for the...
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1099-R Distribution Codes
When distributions are made from a retirement account the tax form issued is the 1099-R. A lot of information we want to know as auditors is presented on the form; gross distribution, taxable amount,...
View ArticleHow to Locate Your Old 401(k)
If you have contributed to a 401(k) at a former employer or think that you may have contributed to a 401(k) at a former employer below are some steps that you can take to help you locate information...
View Article10 Steps to Put on Your Retirement Planning Checklist
The average American doesn’t give proper attention and consideration to retirement financial planning for a variety of reasons (excuses). Perhaps you don’t have time in your day-to-day life to squeeze...
View ArticleExploring Roth In-Plan Conversions
Brief History The Economic Growth and Tax Relief Reconciliation Act of 2001 authorized the establishment of Roth 401(k) accounts beginning January 1, 2006, which are post-tax retirement account. The...
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