Get the free combined 457-401 Distribution Form- 09-2019

CCG 401(a) Defined Contribution and 457(b) Deferred Compensation Plan Distributions Instructions to Participants Attached are your Election Forms and an explanation of your options upon distribution.

How to fill out combined 457-401 distribution form

How to fill out combined 457-401 distribution form

1. Obtain a combined 457-401 distribution form from your employer or retirement plan administrator.
2. Read the instructions provided with the form to familiarize yourself with the requirements and procedures.
3. Provide your personal information, such as your name, address, and social security number.
4. Indicate whether the distribution is from your 457 plan or 401(k) plan, or a combination of both.
5. Specify the amount you wish to withdraw from each plan or the total combined amount.
6. Determine the tax withholding amount, if applicable, and indicate whether you want the withholding to be applied to federal, state, or both taxes.
7. If you want to transfer the distribution to another eligible retirement plan, provide the necessary information for the receiving plan.
8. Sign and date the form.
9. Submit the completed form to your employer or retirement plan administrator according to their instructions.

Who needs combined 457-401 distribution form?

1. Any individual who has both a 457 plan and a 401(k) plan and wishes to make a distribution or withdrawal from either or both of these retirement plans needs a combined 457-401 distribution form. This includes employees who have different retirement plans with the same employer or employees who have changed jobs and have retirement plans with multiple employers.

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What is combined 457-401 distribution form?

The combined 457-401 distribution form is a document used to request distributions from both 457(b) and 401(k) retirement plans simultaneously.

Who is required to file combined 457-401 distribution form?

Participants who wish to access their funds from both a 457(b) and a 401(k) plan must file this form to ensure proper processing of their requests.

How to fill out combined 457-401 distribution form?

To fill out the form, complete the personal information section, indicate the amounts to be withdrawn from each plan, provide the necessary signatures, and submit it to the relevant plan administrators.

What is the purpose of combined 457-401 distribution form?

The purpose of the combined form is to streamline the process for participants accessing distributions from both retirement accounts, ensuring compliance with regulations.

What information must be reported on combined 457-401 distribution form?

The form requires reporting of personal details, the type of distribution requested, amounts to be withdrawn from each plan, and signatures of the participant.