If you overcontribute to your 401k, you may face penalties and taxes on the excess amount. It's important to stay within the annual contribution limits set by the IRS to avoid these consequences.
You own your 401k so when you leave your employer you still own your 401k. You can either leave it where it is or you can move it to which ever company manages the 401k investments for your new employer. how do i git access to my 401k from this company so i can transfer or cash it in.
Nothing they are exempt form seizure.
You still own it.
The 401k passes intact to his heirs, with the same penalties if they are not of age (59 1.2) to withdraw it as cash. He can allocate it to specific beneficiaries or describe the distribution in his will.
It disapperars!
i need to know about my 401k
You own your 401k so when you leave your employer you still own your 401k. You can either leave it where it is or you can move it to which ever company manages the 401k investments for your new employer. how do i git access to my 401k from this company so i can transfer or cash it in.
Nothing they are exempt form seizure.
You still own it.
The 401k passes intact to his heirs, with the same penalties if they are not of age (59 1.2) to withdraw it as cash. He can allocate it to specific beneficiaries or describe the distribution in his will.
It disapperars!
You stay vested without any additional contributions.
If you do not pay back you 401k loan, it will be looked at as a withdrawal. Which means not only will you be taxed on that money this year, you will also have to pay a penalty for early withdrawal.
What happens if you leave the company is one find here here http://www.smartmoney.com/personal-finance/retirement/5-things-you-should-know-about-your-401k-7925/
Typically, you have to pay the entire balance of the loan back.
If you exceed the 401k contribution limit, you may face penalties and taxes on the excess amount. It's important to stay within the annual limit to avoid these consequences.
When you over contribute to your 401k, you may face penalties and taxes on the excess amount. It is important to stay within the annual contribution limits set by the IRS to avoid these consequences.