Get the free 401k statement form

State of Tennessee Deferred Compensation 401(k) Plan SEND COMPLETED FORM TO: Great-West 545 Mainstream Drive, Suite 407 Nashville, TN 37228 HARDSHIP WITHDRAWAL REQUEST Please read instructions on

How to fill out 401k statement form

How to fill out a 401k statement?

1. Begin by gathering all the necessary information, such as your personal details, employment information, and financial data related to your 401k plan.
2. Carefully review the instructions provided by your 401k plan provider, as each plan may have its own specific requirements and guidelines for filling out the statement.
3. Identify the sections in the statement that require your input, such as contribution amounts, investment allocation choices, and beneficiary designations.
4. Fill in all the required fields accurately and double-check the information for any errors or omissions.
5. If you are unsure about any sections or have questions, don't hesitate to reach out to your 401k plan provider for clarification and assistance.
6. Once you have completed filling out the statement, review it one final time to ensure everything is correct and complete before submitting it to your 401k plan provider.

Who needs a 401k statement?

1. Employees who participate in a 401k retirement savings plan.
2. Individuals who have active 401k accounts and contribute to it regularly.
3. Employers who offer 401k plans as part of their employee benefits package.
4. Financial advisors or tax professionals who assist individuals with managing their retirement savings and investment strategies.

For pdfFiller’s FAQs

What is 401k statement?

A 401k statement is a document that provides information about an individual's retirement savings account, specifically their 401k plan. It details the contributions made to the account, any employer matching contributions, investment gains or losses, fees and expenses, and the overall balance of the account. The statement is usually generated on a quarterly basis and is intended to help individuals track their retirement savings progress.

Who is required to file 401k statement?

Both employers and employees are required to file 401k statements. Employers are required to file Form 5500 annually with the Internal Revenue Service (IRS) and the Department of Labor (DOL) to provide information about the plan's operations and financial condition. Employees, on the other hand, are not required to file 401k statements themselves. However, they should regularly review the statements provided by their 401k plan administrator to ensure accuracy and track their retirement savings progress.

How to fill out 401k statement?

Filling out a 401k statement typically involves providing information about your contributions and investment choices within your retirement account. Here is a general guideline: 1. Start by entering your personal information, including your name, address, Social Security number, and account number. Ensure that all the information provided is correct and up-to-date. 2. Indicate your contribution amount: Write down the specific dollar amount or percentage of your salary you wish to contribute to your 401k account during the particular time period covered by the statement (usually quarterly). You may have the option to choose a fixed dollar amount or a percentage of your income. 3. Review your investment choices: If your employer offers multiple investment options within the 401k, review the options provided in your statement. Common choices include mutual funds, bonds, and company stock. Select specific investment options or indicate how you want your contributions allocated among the available options. 4. Determine the beneficiary designation: Decide who your beneficiary will be if something happens to you, and fill in the appropriate space on the form. A beneficiary is the person who will receive your 401k balance in the event of your death. 5. Review and sign: Carefully read through the entire form, ensuring that all the information provided is accurate. Sign and date the statement as required. 6. Submit the completed form: Once you have filled out the statement, submit it to your employer's HR or benefits department according to the instructions provided. Keep a copy for your records. Note: The specific layout and sections of a 401k statement may vary depending on the provider and plan. It is advisable to read the instructions provided on the document itself to ensure that you are accurately filling out the required information.

What is the purpose of 401k statement?

The purpose of a 401(k) statement is to provide account holders with information regarding the status and performance of their 401(k) retirement savings account. It typically includes details such as the account balance, contribution amounts, investment allocations, transaction history, and any fees or expenses incurred. The statement allows individuals to track their progress towards their retirement goals, assess the performance of their investment choices, and make informed decisions about their retirement savings.

What information must be reported on 401k statement?

A 401k statement typically includes the following information: 1. Account Balance: The total amount of money in the 401k account, including contributions, investment gains or losses, and any withdrawals or distributions. 2. Contributions: The amount of money contributed by the employee and/or employer during a specific period, usually separated into pre-tax and after-tax contributions. 3. Investment Performance: This section provides details on the performance of the investments held within the 401k, including gains or losses, dividends, and interest earned. 4. Asset Allocation: This displays the percentage of the account balance allocated to different investment options, such as stocks, bonds, mutual funds, or target-date funds. 5. Transaction History: A report of all transactions made within the account during the reporting period, including contributions, withdrawals, rollovers, and investment changes. 6. Fees and Expenses: Details about any fees or expenses incurred by the account, including administrative fees, investment management fees, and any penalties for early withdrawals or plan loans. 7. Vesting: If applicable, the statement will indicate the employee's vested balance in the plan, which represents the portion of the account balance that the employee is entitled to keep if they leave the company. 8. Loan Information: If loans are allowed within the 401k plan, the statement will include information on any outstanding loan balances, repayments, interest rates, and terms. 9. Plan Summary: A summary of the key provisions of the 401k plan, including eligibility requirements, employer matching contributions, and any other important details. It's important to note that the specific information included in a 401k statement may vary depending on the plan provider and individual circumstances.

When is the deadline to file 401k statement in 2023?

The deadline to file a 401k statement in 2023 will depend on several factors, including the specific plan and the regulations set by the Internal Revenue Service (IRS). Typically, 401k statements are required to be filed by the plan sponsor within 7 months after the end of the plan year. For example, if the plan year ends on December 31, 2022, the deadline to file the 401k statement for 2022 would be around July 31, 2023. It is recommended to consult with the plan administrator or a financial advisor for the specific deadline pertaining to a particular 401k plan.

What is the penalty for the late filing of 401k statement?

The penalty for late filing of a 401(k) statement can vary depending on the specific regulations and circumstances involved. Generally, the penalties can include fines or fees imposed by the Internal Revenue Service (IRS) and the Department of Labor (DOL). The amount of the penalty can range from a fixed dollar amount per day to a percentage of the plan assets. Additionally, late filing may also result in the loss of certain tax benefits and potential legal repercussions. It is advisable to consult with a tax professional or attorney for specific guidance on the penalties for late filing of a 401(k) statement.

How can I manage my 401k statement directly from Gmail?

You may use pdfFiller's Gmail add-on to change, fill out, and eSign your 401k statement as well as other documents directly in your inbox by using the pdfFiller add-on for Gmail. pdfFiller for Gmail may be found on the Google Workspace Marketplace. Use the time you would have spent dealing with your papers and eSignatures for more vital tasks instead.

How do I edit 401k statement online?

With pdfFiller, you may not only alter the content but also rearrange the pages. Upload your 401k statement and modify it with a few clicks. The editor lets you add photos, sticky notes, text boxes, and more to PDFs.

How do I edit 401k statement on an Android device?

You can make any changes to PDF files, such as 401k statement, with the help of the pdfFiller mobile app for Android. Edit, sign, and send documents right from your mobile device. Install the app and streamline your document management wherever you are.