Guest M.A. Posted October 20, 2006 Posted October 20, 2006 Employee is 60 years old and self terminated from employment. Now wants lump sum distribution. Is the distribution code Normal distribution [7] or Separation from Service but Exempt from 10% penalty [2]?
Guest bmukherji Posted October 21, 2006 Posted October 21, 2006 Employee is 60 years old and self terminated from employment. Now wants lump sum distribution. Is the distribution code Normal distribution [7] or Separation from Service but Exempt from 10% penalty [2]? Since the employee is past 59 1/2 the code should be 7.
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now