4.6 • 682 Ratings
🗓️ 30 December 2024
⏱️ 8 minutes
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0:00.0 | brought to you by the ramsi network app download today to go further with ramsie so i have a bit |
0:09.3 | of a problem i never thought this was going to happen so uh in 2018 my father passed away and he left |
0:15.3 | me and my brother a 401k plan uh fast forward five years uh i got a check in the mail this morning for about 245,000. |
0:26.7 | The original account balance was about 300,000. |
0:30.1 | And what's happening is they gave me the check and I have to pay the IRS that 55,000 |
0:36.1 | difference from the 300,000 of the 245. |
0:39.5 | I called them and asked them if they could roll it over, and they said once they issued the check, |
0:44.3 | there's nothing that can be done. |
0:45.9 | Who told them to issue the check? |
0:49.2 | Not me. |
0:50.7 | Apparently, the company my father was before. I didn't either didn't real I'm sorry I didn't |
0:58.1 | I didn't I didn't hear you you cut out apparently the company your father worked for what |
1:01.4 | yeah they um they have a five years plan I guess for the death benefit that if it's not |
1:09.0 | rolled over to something else within five years, |
1:11.4 | they must close the account and just issue a checkout. It's super confusing. The way they |
1:17.0 | explained it to me, I was on the phone with them for an hour and a half this morning with my |
1:21.1 | 401k company. And they pretty much said once we issue the check, there's nothing that can be |
1:27.0 | done. There was no workaround. Yeah, there is. They had the check, there's nothing that can be done. |
1:28.4 | There was no workaround. |
1:29.4 | Yeah, there is. |
1:32.0 | They had until this, that's what I'm saying. |
1:33.2 | Yeah, there is. |
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