Guest riss@7477 Posted October 26, 2011 Posted October 26, 2011 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?
ETA Consulting LLC Posted October 26, 2011 Posted October 26, 2011 Does the reference to an "IRA" include both a traditional IRA and a Roth IRA? It does. Good Luck! CPC, QPA, QKA, TGPC, ERPA
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