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Form 1099-R Mandated Close of Corporate Pension
Does the 10% Penalty on Early Withdrawal still apply if the Corporation mandated withdrawal of ALL pension funds for all employees? The fund was 100% paid for by the Corporation.
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Many thanks IRonMaN, Ironically, I had another client already that is using Form 8915-E and spreading out the tax over 3 years. I believe I can use the same technique but pay the tax in 2020. As long as this takes the 10% penalty away everyone should be happy.
Very much appreciate your very quick response. Have a great tax season and a long vacation this summer.
Bob
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