Retirement Plan Consultants
Hochheiser Deutsch & Co, Inc.
Loren D. Stark Company
Compass Retirement Consulting Group, Inc.
Trucker Huss, A Professional Corporation
Bates & Company
Carpenter Morse Group
ERISA Services, Inc.
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|Plan Refuses to Withhold Federal Income Tax from My Distribution|
BenefitsLink Message Boards
Jan. 12, 2021
"My employer's plan is terminating and I'm taking a small cash distribution and rolling over the rest to an IRA. My employer will NOT take federal withholding taxes from the cash portion. Isn't this required when taking a distribution? Is there any repercussion for not taking the withholding? I guess I could up my deduction each pay to make up for it so I don't owe it all at the end of the year."
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