Wow pension I wasn't aware of

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Snattlerake

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I had a similar experience about 5 years ago. An old company of mine sent me a letter stating I had multiple thousands of dollars I had to take out of my 401K I had contributed to for 10 years. Me and Edward Jones are on a first name basis today.
 

BReeves

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Confirmed this morning, that first check is going to be a little north of $14,000.00. Called our CPA to give him a heads up, he wasn't the bearer of any good news. Seems as though unless we can get a waver the IRS thinks I should have been drawing and paying taxes on that money from 2016 and the penalty is 50% of what they should have received. I may end up having to pay 1.5 times whatever the taxes work out to be. He was fairly confident we may be able to get a waver because I didn't know about it and if I had known I would have been drawing it. Will just have to wait and see.
 

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