PFranckowiak Posted July 21, 2016 Posted July 21, 2016 HCE participant with a Self Directed 401k account took money out of the plan and then put it back in two months later. Not 59 1/2. Is this correctable through VFCP? He needs to put back the money plus interest. Anything I am missing? Pat
Flyboyjohn Posted July 22, 2016 Posted July 22, 2016 No, doesn't seem to fit any of the VFCP boxes. Hate to sound like a broken record but this client needs the proverbial good ERISA attorney. MoJo 1
My 2 cents Posted July 22, 2016 Posted July 22, 2016 Are 401(k) plans permitted to accept back money removed as a distribution? What does the plan say? A Self Directed 401(k) plan is not at all the same as a personal account and must not be handled as though it were. Always check with your actuary first!
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