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401k early withdrawal

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Bernard_

Hello,

I lived in the us for 7 years and had a 401k with my employer. I kept this 401k when I moved out of the US. Recently, my employer has been bought and discountinued the 401k so I had to withdraw all the mo,ney in it.
(Leaving abroad and being a foreign Citizen I could not open an IRA).

There was a 30% withdrawal but I am not sure if I also have to pay an extra "early withdrawal fee" (I am not yet 55), any of you has encountered this situation and know what to do?

Thank you

twostep

I have not come across a waiver for 10% early withdrawal.

Bernard_

Thank you twostep. So that means I have to do a file a complete tax return with irs ( even though I don’t leave nor am a Citizen/green card) or is there just a form (and money!!) to send?

Thank you again
Bernard

twostep

I am not an accountant/ CPA. As far as I understand it you have to file and you may be able to get all or some back depending on your home country.

mugtech

When you said there was a 30% withdrawal, did you mean 30% tax withholding?  You will have to file an income tax return for the year in which the 401k was liquidated as a non-resident alien and you could owe or get a refund depending on the gross amount of your distribution.

pat94108

A few things: by 30% withdrawal, you're probably talking about the tax withholding. As far as the 10% penalty fee, I personally never had to pay it when I withdrew money from my 401k when I was no longer an employee with that company and I did it a couple of times.

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