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Topic: Withdrawing my (small) 401K pot now that I am back in America  (Read 471 times)

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Withdrawing my (small) 401K pot now that I am back in America
« on: August 02, 2018, 10:02:58 PM »
Hi - I hope someone has some advice or experience with this dilemma.

I have a small (labout 3,000 sterling) amount in a 401K that I have not contributed to in years and am eligible to withdraw, having reached 55.  It only goes down owing to their administration fees. The fund is insisting I can only wire this money into a British bank account even though I have not had an active one for over a year, and even that was in my married, not maiden, name. Now that I have returned to the states I go by my maiden name again (there is a page in my passport saying I use both).

My question is - surely they must be able to send me a paper cheque once I have proven my identity, address, etc., in the US, right?  Don't I have the right to request one?

Thanks and any advice is greatly appreciated!

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Re: Withdrawing my (small) 401K pot now that I am back in America
« Reply #1 on: August 06, 2018, 06:10:11 PM »
Hi.  I think it's going to depend on the organization holding your 401K. The 401K is a US account, correct?

Mine will transfer funds to another account by direct deposit (in the USA), but not outside it. They'll also cut a paper check on request.
I had another account that would only cut a paper check in US dollars.

The only reason I can see for them insisting on a UK account would be if your address with them was still in the UK ? Otherwise a complete mystery to me!

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