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401(k): distribution and tax questions
Review the current account process, available transactions, and tax questions for a 401(k).
Account review
The plan document and your employment status determine the payment options a 401(k) can offer.
Start with the current plan packet
A cash distribution, partial payment, direct rollover, installment payment, loan, or hardship request can use different plan rules. The current recordkeeper must confirm which choices apply to your account.
Confirm the account sources before choosing a payment
Ask for the vested balance, pre-tax, Roth, after-tax, employer, and loan-related amounts. The source breakdown can affect the payment form, withholding, rollover treatment, and tax records.
If you still work for the sponsoring employer
Ask whether the plan permits a loan, hardship request, in-service distribution, or another transaction while you still work for the employer.
If you no longer work for the sponsoring employer
Ask for the former-employee distribution packet, the payment choices available now, and the instructions for cash or a direct rollover.
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Bring the current 401(k) record and the transaction you want to discuss. We can review the provider process and the questions that belong with the request.
Review My 401(k) Options