Hello ODT professionals. I am looking to speak with someone (by telephone) regarding a few scenarios. I have an old 401k sitting with a previous employers 401k administrator. I want to move it but I have a few scenarios I would like to ask questions, discuss tax liability and timing. I already have all the investment accounts I desire and this will most likely NOT lead to a revenue generating customer relationship for you. I will however be happy to buy a few drinks during the discussion and a meal, if we meet face-to-face.
I am very hopeful that this professional is familiar with the CARES Act for 2020.
"Special Rules for 2020
The CARES Act allows those affected by the coronavirus pandemic a hardship distribution up to $100,000 without the 10% early distribution penalty those younger than 59½ normally owe in 2020. Account owners also have three years to pay the tax owed on withdrawals, instead of owing it in the current year. Or, they can repay the withdrawal to a 401(k) or IRA and avoid owing any tax—even if the amount exceeds the annual contribution limit for that type of retirement account."
Please PM me with your contact information and availability.
Thank you in advance.
HK
I am very hopeful that this professional is familiar with the CARES Act for 2020.
"Special Rules for 2020
The CARES Act allows those affected by the coronavirus pandemic a hardship distribution up to $100,000 without the 10% early distribution penalty those younger than 59½ normally owe in 2020. Account owners also have three years to pay the tax owed on withdrawals, instead of owing it in the current year. Or, they can repay the withdrawal to a 401(k) or IRA and avoid owing any tax—even if the amount exceeds the annual contribution limit for that type of retirement account."
Please PM me with your contact information and availability.
Thank you in advance.
HK
