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    rodrigogarcial's Avatar
    rodrigogarcial Posts: 2, Reputation: 1
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    #1

    Dec 18, 2009, 12:39 PM
    401K rollover same company another country
    I worked during 2001/3 worked in US on a H1B, I was transferred to Argentina same company another country. I was asked to quit the US based company and hired locally in Argentina paid in Argentina currency with no 401K benefit. Now when I want to do a rollover of the funds or take them out they say I can't cause I show as "international transfer". Is this correct? The company is not contributing and I am not in US and they don't let me take the money. Thanks in advance for the answer
    ebaines's Avatar
    ebaines Posts: 12,131, Reputation: 1307
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    #2

    Dec 18, 2009, 12:46 PM

    You still work for the same company, even though you had to "quit" from the US-based division. So you are still an employee of that company, and so are subject to the same limits as all other employees with regards to the 401(k) rules. I'm afraid this is what is known as a "Catch 22" - you can't withdraw any funds because you are an employee, and you can't contribute because you aren't a US employee. I suggest you talk to both your HR department and the plan administartor to see if both give you the same answer.
    rodrigogarcial's Avatar
    rodrigogarcial Posts: 2, Reputation: 1
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    #3

    Dec 18, 2009, 01:23 PM

    Thank you Ebaines. Hewitt says they can't do anything as long as the company reports me as employee. The question is, can the company legally inform Hewitt I am not a (US) employee. (so they would allow me to take the money). It looks that the problem is an administration issue rather than a legally one. When 401K does not allow to take the money as long as you are employed is the US law considering international subsidaries as the same company? For legal purposes I have been asked to quit and rehired and now bound to new rules on the new country.

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