I have a 401K investment that I left alone from a previous company. I now would like to use the money for in vitro treatment. How do I remove the money and what penalties/taxes will I need to pay?
by 
Anonymous
ANSWERS: 2
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There are several things you can do: 1) You can contact the prior plan administrator and request a distribution. 2) At the time of distribution, you have three options: (a) take the lump sum and pay taxes/penalties for keeping it (b) roll the money into your current employers 401(k) plan if they allow rollovers. (most do) (c) roll the money into an IRA 3) If you roll the money into your current employer's plan, they may allow for loans. You can take what you need this way. They may also allow hardship distributions. Contact your plan administrator to see what requirements are needed to apply for the hardship. 4) If you roll your money into an IRA, you can take what you need out of it and pay the penalty for an early withdrawal. (I'm assuming you are under the age of 59 1/2 since you are asking about in vitro.) But this way, you're not paying a penalty on all your money, only on what you take out.
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