Ask Experts Questions for FREE Help !
Ask
    ABMurvin's Avatar
    ABMurvin Posts: 2, Reputation: 1
    New Member
    		  
    #1

    Feb 25, 2007, 09:15 PM
    Filing After Early Withdrawl
    I am 25 years old and in 2004 I "retired" from a job where I was a part of an ESOP. Can anyone tell me which form I need to complete in order to pay the uncollected taxes and the early withdrawal penalty on this income? Thank you in advance for your help.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Feb 26, 2007, 11:22 AM
    The forms are Form 1040 and 5329.

    Was the ESOP part of your company's 401K plan?
    ABMurvin's Avatar
    ABMurvin Posts: 2, Reputation: 1
    New Member
    		  
    #3

    Mar 1, 2007, 09:00 AM
    At the time of my retirement I was no participating in my company's 401k plan. I see that you are in Atlanta, so if it helps any the company in question is Publix.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #4

    Mar 1, 2007, 09:07 AM
    I have a client who is a Publix employee, and her ESOP was NOT part of the 401K.

    Suggest you double check that.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Early 401k withdrawal [ 2 Answers ]

Last year (2006) I withdrew all of my 401 k from my former employer. How do I account for this in filing my taxes and how does the 10% early withdrawel get factored in. The company already withheld 20%

401K Early withdrawal [ 5 Answers ]

My wife will not listen to me! She feels that we need the money from a previous employers 401K plan to help with paying our bills since she doesn't make much money anymore. She only has about $8,000.00 in there and according to the way I see it, she will need to have 20% fed. Tax withheld, and 8%...

401k early withdrawal [ 4 Answers ]

The plant that I currently work at is closing down. I have a 401(k) that currently has $16,000 in it. I am 48 years old. What kind of penalties am I looking at if I pull all the money out when the plant closes? Approximately how much in taxes will I be paying at the end of the year? I have made...

401K early withdrawal [ 4 Answers ]

I am in a 401K plan at my work and have been advised our company does not have it where you can get a loan. I need to make withdrawl funds from my 401k to handle some legal fees for a custody battle. Can I just and pay a penalty?

Early withdrawal penalty [ 1 Answers ]

I took a 401K withdrawl to pay for daughters college. I paid it back while employed. I changed jobs and I was issued a 1099-R as income from the unpaid balance of the original withdrawl. Question is: Can the 10% penalty be waived for early withdrawl from 401K or is relief only applicable with...

View more questions Search