401K Rollover leave company and rehired in same year

[Guest Crashdavis]

I left my Company in May 2011 and was rehired in Dec 2011 and still currently with this company.

My question:

Since I left my company, can I rollover any amount of the 401K even though I came back and still current employed by this same company?

Thank you

[QDROphile]

Plan terms control. Most plans do not allow a distribution on account of termination of employment if the employee is rehired before the actual distribution.

[david rigby]

Original post is not clear.

- Did you get a distribution? If so, has it already been rolled over? anywhere?

- Alternatively, are you saying that your May 2011 termination of employment will trigger a distribution (not yet made)? If so, the comment from QDROphile is correct: most plans will not permit you to recieve such a distribution due to rehire. (Admittedly, some employers fail to understand this provision.)

[Guest Crashdavis]

Original post is not clear.

- Did you get a distribution? If so, has it already been rolled over? anywhere?

- Alternatively, are you saying that your May 2011 termination of employment will trigger a distribution (not yet made)? If so, the comment from QDROphile is correct: most plans will not permit you to recieve such a distribution due to rehire. (Admittedly, some employers fail to understand this provision.)

Hi David,

I left my Company in May 2011.

* I did not do anything with the 401K (I know I should have)

* I did not do a rollover

* Example: I had $100K in my 401K

I joined the same company in Dec 2011 to Present

* Now my 401K is $100K from above plus $10K contributions since Dec 2011 = $110K current funds

* My question is can I rollover the amount of 401K dollars I had when I left my company in May 2011 (example $100K above) even though I am currently employed the same company?

* I know this is a long shot, put I thought I would ask

Thank you

[david rigby]

* My question is can I rollover the amount of 401K dollars I had when I left my company in May 2011 (example $100K above) even though I am currently employed the same company?

No. You cannot roll over anything unless you get a distribution. In general, no one gets a distribution until some type of severance of employment. Very likely, your plan also states that no distribution is permitted after severance IF the participant (you) has been rehired before the actual distribution is made.

[BG5150]

Are you over 59 1/2 years old? The plan may allow for a distribution if you are older than that.

[masteff]

This is an area where the IRS code and regulations allow some variation from plan to plan; we could guess all day long and not know if we were right. We'd be more accurate if you'd ask us to guess what color shirt you're wearing.

Have you tried simply asking your plan if you can take a distribution?