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k man

"Double" Distribution

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Guest JoeMud

I'll get your money back for 60%. Provide name address and phone. Yabba dabba doo.

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I use something to the effect of "A review of your account indicates that you have been paid in excess of your account balance in the plan. If you have rolled over these amounts, your IRA has a non-qualifed contribution subject to excise taxes...." If the person takes it in cash, we request the money be returned within XXX days.

Hopefully you get the money back. My success rate with the above is 2 for 2 in 16 years in the business. However, I did see an instance late last year where the employer actually sued the employee for the double distribution. Unpleasant to say the least...

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