BG5150 Posted February 3, 2015 Posted February 3, 2015 402(f) Notices are for eligible rollover distributions only, right? So I would not have to send one with RMD paperwork? QKA, QPA, CPC, ERPATwo wrongs don't make a right, but three rights make a left.
GMK Posted February 3, 2015 Posted February 3, 2015 That makes sense to me (not sure what the regs say). You could send an abbreviated notice (which might actually be a useful reminder to the participant): Your Rollover Options None.
Belgarath Posted February 3, 2015 Posted February 3, 2015 No 402(f) notice, but you still have to give a notice re electing out of the 10% withholding, etc., as required under, (I think - didn't check reference) 3405. So you don't get to avoid notices altogether... There are penalties for failure to provide this notice, albeit pretty small as I recall. Something like 10 bucks per notice failure.
BG5150 Posted February 4, 2015 Author Posted February 4, 2015 The distribution form from the carrier has the part about 10% / zero / other tax withholdling. QKA, QPA, CPC, ERPATwo wrongs don't make a right, but three rights make a left.
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