I worked for a fortune 500 company for 15 years and quit in 2004 to start a business. When I quit I rolled my 401k & SSOP into an IRA there was a deposit in both accounts after I did the rollover & they both remained open. About 1 year ago a new financial institution started managing the accounts. The first statement showed a deposit in one account of $400 and the other account of $188 over what was in the accounts. I had too many things going on and didn't do anything with it. I received a letter on both accounts about one week ago that I needed to roll them into an IRA within 30 days or they were going to send me a check for the account balances (minus 20% withholding) because I no longer work for the company and the account balance is less than $1000.
I may or may not be entitled to this money.
My question is: Is this money legally my money? If it was a mistake & I roll the money into my IRA what can they do?
I don't really feel an obligation to call the company & deal with them. (lots of long stories)
I may or may not be entitled to this money.
My question is: Is this money legally my money? If it was a mistake & I roll the money into my IRA what can they do?
I don't really feel an obligation to call the company & deal with them. (lots of long stories)
