Jump to content

Recommended Posts

Guest riss@7477
Posted

The IRS sample 402(f) notice for accounts that are not designated Roth accounts says:

If you have an outstanding loan from the Plan, your Plan benefit may be offset by the

amount of the loan, typically when your employment ends. The loan offset amount is

treated as a distribution to you at the time of the offset and will be taxed (including the

10% additional income tax on early distributions, unless an exception applies) unless

you do a 60-day rollover in the amount of the loan offset to an IRA or employer plan.

Does the reference to an "IRA" include both a traditional IRA and a Roth IRA?

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 account

Sign in

Already have an account? Sign in here.

Sign In Now
×
×
  • Create New...

Important Information

Terms of Use