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Mr_Natural

Junior Member
What is the name of your state? NC

The 401K plan of my former employer recently sent me a notice stating that if I didn't roll over my 401K into an IRA, they were going to send me a distribution check because I no longer met the minimum requirements of the plan. Because it went to my old address, I never got the letter and so they sent me a check with the taxes deducted. I never got that either, so when I found out about it, I had another check issued. I was told that I had 60 days to roll it over to an IRA and if I rolled over the gross amount before taxes, I would get the amount deducted for taxes back on my income tax refund. Is that correct?

If so, is that 60 days from the 2nd check or the first one that I never got. How do I handle this on my tax return?
 


abezon

Senior Member
You have 60 days from the date they issue the second check to roll over the GROSS amount into an IRA. This means you have to put in all the money you get PLUS an amount equal to what they sent to the IRS. This is why you should have had them roll it over directly.

Hire someone to do your taxes this year.
 

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