Bok Financial 401K Withdrawal Form - Any 401(k) plan withdrawal prior to age 59½ is subject to a 10% penalty plus federal and state income taxes. By law, 401 (k) recordkeepers must withhold 20% for the irs and potentially more for the state if it withholds, meaning a larger initial.
Any 401(k) plan withdrawal prior to age 59½ is subject to a 10% penalty plus federal and state income taxes. By law, 401 (k) recordkeepers must withhold 20% for the irs and potentially more for the state if it withholds, meaning a larger initial.