How long does it take for me to received my money from my 401K after I quit my job?

Answer 1

You'll usually get some paperwork asking you what you want to do with it. Some companies allow you to leave it in if you want to, some don't. You also have the option of putting it into a rollover IRA - that allows taxes to continue to be deferred.

If you've asked for it to be sent to you, I'd expect you'd see it within 30 days, 60 at most, but that's an opinion, not something based on law. You could ask the company how long it will take. Realize that if you take it and don't roll it over in the allowed timeframe, you'll have to pay income tax on the whole pretax amount withdrawn, plus a 10% penalty if you're under age 59-1/2,

Answer 2

Until you retire.

If you want it earlier you will have to contact the company handling the 401K and request it and pay penalties, otherwise you don't just "get" your money.

Edit your question if you need more help.

Answer 3

The words of your 401(ok) plan loan provide you the respond. look into the paperwork for the loan. regrettably, the loan probable must be repaid on the instant. Borrowing against a 401(ok) account is normally no longer a solid thought, and this reimbursement requirement is barely one explanation why.

Answer 4

it takes about 1 to 2 weeks to get your money. i know it took me about 1 week or so. not very long at all.. good luck!!

Answer 5

you need to ask for it or it will take until the next yearly report