I worked at a company for 4 years; they had my 401k set up through paychex. My paychecks started bouncing and soon the business was closed (it was part of a franchise and individually owned).

A few years later I contacted paychex to transfer the 401k to a different account. My 401k was still open and has money in it but they refused to let me close/transfer funds without the owners permission. I cannot contact the owner and don't know how to get the funds released...

What should I do?


You should probably consult an attorney.

However, if the owner was a corporation/LLC and it has been officially dissolved, you can provide an evidence of that from your State's department of State/Corporations to show that their request is unfeasible. If the owner was a sole-proprietor, then that may be harder as you'll need to track the person down and have him close the plan.

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