Question

Withdrew 401k Early - Confused on taxes

Forum|Forum|7 years ago
June 1, 2019
1 reply
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I am a little confused here while trying to find the answer. I had needed to withdraw about $5,000 from my 401k account earlier in the year. However, I have not received any tax paperwork for it (1099-R I think?) and there is no tax information on their website for me that I have found. I was deducted a fee for early withdrawal when I had done it. What do I need to do here if anything?

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MargaretL

Employee

In the event that you can't get the 1099-R form, you may prepare a substitute 1099-R and enter the information about your withdrawal as accurately as possible. That includes your withdrawal amount is box 1, any tax withheld in box 4, a code in box 7 and any other information that you may have. You will be asked to write an explanation why the 1099-R is a substitute.