How long does a former employer have to send your separation papers to a financial institution so that you can get a 401k distribution?
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How long does a former employer have to send your separation papers to a financial institution so that you can get a 401k distribution?
I worked for a company that was bought by another company. The last day of employment was the 16th of last month. The next day, I contacted the financial institution to request a total distribution. However, as of now my ex-employer will not send them separation papers. How long can they legally tie this up?
Asked on September 2, 2016 under Employment Labor Law, West Virginia
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 7 years ago | Contributor
They are under no legal obligation to provide this documentation: while most employers willing do so as courtesy or accommodation, they are not specifically required to send separation papers to any other institution. You will have to ask the financial institution what over proof or evidence of separation they will accept when the employer is not cooperating.
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