I have a 401(k) with over 100 k in it .
My question is if my former employer's 401(k) plan does not withhold the 10 % early withdrawal penalty, will I need to pay this with a US tax return ? after or is there any way the IRS will ask for payment ?
The US employer ''Separation of employment'' - termination due to oilfield slowdown
- Can I claim ''hardship'' terms to avoid the 10% penalty ?
- They will with-hold 15 % of the total with Canada tax treaty claim (not the standard 30 % )
- Canadian citizen - non -resident of the USA.
- Age 48
- No other USA income, other than a US stock brokerage account - as non resident.