chicschizo
Mar 22, 2009, 08:55 PM
hi,
i have seen Q&As on withdrawal of 401k balances for foreigners when leaving the US for good. i understand that there is a 10% early withdrawal penalty and 20% WHT forwarded to IRS.
Say if i have 10k in my account and i want to withdraw it; does this mean i get back 7k (1k penalty and 2k WHT) or does the 20% WHT already includes the penalty charge meaning i get back 8k?
also what are the liable taxes? only federal or does it include state, medicare FICA etc?
thanks
i have seen Q&As on withdrawal of 401k balances for foreigners when leaving the US for good. i understand that there is a 10% early withdrawal penalty and 20% WHT forwarded to IRS.
Say if i have 10k in my account and i want to withdraw it; does this mean i get back 7k (1k penalty and 2k WHT) or does the 20% WHT already includes the penalty charge meaning i get back 8k?
also what are the liable taxes? only federal or does it include state, medicare FICA etc?
thanks





