Tax Fraud and Tax Evasion Questions & Answers
Q&A
Asked in Boston, Massachusetts
|
Jan 2026
When do I withdraw my 401k? Moving out of the US permanently. I do not intend to leave my 401k until 59.5 years, as I am 30 years old.
Hi! I will leave the US forever because of a family crisis and will go back to my country. I do not intend to leave my 401k until I am 60 years old, since I am 30 years old. I will pull it out and I might invest it in my home country since I do not see the use of having it stay in the US over the next 30yrs. My wife is also working and has not invested in 401k. We are eligible to file the taxes together in order to obtain maximum deductions. My question would be, when will I retire my 401k amount? I intend to leave the US sometime in May-June 2024. Should I withdraw my 401k in 2024 or 2025? The other question is the amount of penalty and taxation on the amount. What will be the percentage that I will recover of my 401k contributions, assuming that my 401k will be approximately 75k at the end of this month? Moreover, we would highly appreciate any useful recommendations in case you believe that hitting 401k is not the correct decision to make at the given stages in my case. Thank you!!
Read more
Legal Advice By State