The company is now out of business. Is this money still in an account somewhere?
2006-09-25 16:58:48 · 6 answers · asked by Anonymous in Business & Finance ➔ Investing
Yes now the question is where. Who was the brokerage firm that was handling the account...start there. you may also contact the securities and exchange commission and they will be able to guide you. Your employeer had to put the money in an account that was yours. They can't take it with them when they closed doors and ended business. So some broker out there some where has it and is looking for you. start looking for them Make your self easy to find.
Some of that junk mail could have been a statement. start watching your mail better. How many times have you moved since you quit working for them? You should have recieved a statement at some point in time. Who was it from do you remember? If you know the name of the firm who was handling it, your off to a running start. Hope you find it soon. who knows it may have grown nicely while you were forgetting it. On the other hand having neglected it you may be in the crapper by now.
2006-09-25 17:03:41 · answer #1 · answered by john d 3 · 0⤊ 0⤋
Look for your old yearly financial statements on the 401K. Most 401K's are held by a third party so the money should be around. You also should have been receiving quarterly statements. Have you move since the company went out of business? This maybe a reason for not getting a statement if they do not have a current address.
2006-09-26 00:07:08 · answer #2 · answered by fijisun 2 · 1⤊ 0⤋
There are several ways to locate your 401(k).
First, find paper work that tells you who the 401(k) plan trustee is and contact them.
Second, search the PBGC website. The PBGC is the Pension Benefit Guaranty Corporation which is part of the U.S. Government. Unclaimed 401(k) money goes to the PBGC.
https://www.pbgc.gov/MissingParticipant/missingParticipantSearch.jsp
Third, check your state's unclaimed property website.
http://www.unclaimed.org/
http://www.window.state.tx.us/up/other.html
http://www.missingmoney.com/
Fourth, search your old company's website pages by going to www.archive.com and see if there are any references to the 401(k) plan trustee.
Fifth, contact the U.S. Department of Labor with whom the company filed the 401(k) plans annual return on Form 5500 and ask the U.S. Department of Labor to help you locate the trustee.
http://www.dol.gov/ebsa/
Good luck.
2006-09-26 00:22:13 · answer #3 · answered by TaxMan 3 · 0⤊ 0⤋
Yes it is... by law they have to save it for you. This is what they talk about when they talk about people finding others free money. Now the only exception to this rule is if they sent a letter to the last know address and warned the person whom it is owed that they will have an amount of time to collect and then the funds will be returned to the place of origin... but this is hard and time consuming for most and they do not do it.
Hope this helps.
2006-09-26 00:04:05 · answer #4 · answered by xtreem_computing 2 · 0⤊ 1⤋
if the company where you contributed is now out of business and no longer in productived activity. forget what you have contributed, no more to be found, no more recovery and consider it as your experience in your life. anyway its your fault, you have forgotten all about it before the company closed its business
2006-09-26 00:06:41 · answer #5 · answered by Jesus M 7 · 0⤊ 2⤋
yes........ you need to contact company you worked for
2006-09-26 00:04:49 · answer #6 · answered by Anonymous · 0⤊ 1⤋