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While you wont have to pay the money back, youll have to pay federal incomes taxes on it. You may also have to pay a 10% early withdrawal penalty if youre under age 59, unless you qualify for an exception. Well discuss these exceptions in a later section.
If youre already a John Hancock retirement plan participant, call us at 1-888-695-4472 to speak with a rollover education specialist about your options.
You may also request one from your financial professional or by calling us at 800-225-5291.
Note: If you wish to complete a direct rollover, you must provide John Hancock with the proper paperwork from the financial institution that holds your IRA or from the other eligible retirement plan. distribution, the withdrawal is not treated as an eligible rollover distribution subject to 20% withholding.
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