The IRS issues rules about the withholding of taxes from distributions from a 401(k) plan or other tax-qualified plans. These rules can and often do change from time to time. This chart is intended to provide a high-level summary of current IRS rules. You should review the plan documents as well, which also control whether certain distributions are allowed by your plan and any specific rules which may differ from the summary information presented in this chart. Vestwell is not a law firm or tax advisor. We can not and do not provide any legal, tax, investment, or financial advice to any individual. We strongly encourage you to consult with a tax or other qualified financial professional before taking any type of distribution from your plan.
We hope you found the above information helpful. If you need further assistance, please get in touch with us at help@vestwell.com