From: joetaxpayer
Newsgroups: misc.invest.financial-plan
Subject: Re: Limited 401K options ... IRA?
Date: Mon, 22 Oct 2007 16:33:46 -0500
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> Ah, that makes sense. It would fit with the example on the show, where
> the woman did take a distribution with the intent to buy a condo, so
> presumably "hardship". As that fell through, she could then return it
> if within the 60 days. I guess that she could indeed roll it over into
> an IRA, presuming she could cover the tax withholding.
> Brian
My plan specifically states "Hardship withdrawals are not eligible for
rollover to another plan or IRA." It not say say whether a failed home
purchase can be cause to re-deposit the funds back to the 401(k). I
wouldn't presume she could roll it, but again, I have the one data
point, not the regs that spell this out. I'd be curious to find IRS docs
that spell this type of circumstance out, clearly.
JOE
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