When you take money from your 401(k) through a withdrawal, rollover or loan default, the IRS requires specific reporting on ...
Key reporting forms: Form 1099-R reports most 401(k) distributions, while Form 5498 confirms IRA rollovers; W-2s show contributions. Penalties and exceptions: Withdrawals before age 59½ may face a 10% ...
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Smart moves for your 401(k) rollover decisions
Three main choices: You can leave your 401(k) in the old plan, roll it into an IRA, or transfer it to your new employer’s plan—each with specific advantages and trade-offs. Tax traps to avoid: ...
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