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loretto-d8
February 20, 2025
Question

If I took out my 401k because i no longer work for that employer? Do you still get penalties fees? Or can it be put in on the other portion?

  • February 20, 2025
  • 1 reply
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I am not of the age to get my 401k I took it out early, and I no longer worked for that employer so do I qualify for no penalty? Putting in the other portion on those questions?

    1 reply

    V
    Vanessa A
    February 20, 2025

    It depends.  If you take it out and roll it over into another 401K within 60 days, then you do not get penalties.  If you do not roll it over within 60 days you will owe the 10% early withdrawal penalty. 

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