leighl Posted January 26, 2016 Posted January 26, 2016 Is there any restriction in completing a mandatory cash-out for a participant with less than $5,000 in vested account if he does not live iin the US anymore?
Lou S. Posted January 26, 2016 Posted January 26, 2016 You might have trouble opening an IRA for him but that's would be an issue with the custodian of the IRA and not an issue with the plan cashing him/her out.
My 2 cents Posted January 26, 2016 Posted January 26, 2016 If not rolled over, wouldn't the mandatory withholding be 30% instead of 20%? Always check with your actuary first!
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