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Sentry 401k Plan (For Sentry Employees) WITHDRAWAL REQUEST 2025

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The document is a withdrawal request form for the Sentry 401k Plan, intended for employees seeking to withdraw funds from their retirement accounts. It outlines the necessary steps for completing the form, including notarization or signing in front of a Human Resources representative, and provides detailed instructions on withdrawal options, processing timeframes, hardship withdrawals, tax implications, and rollover options. The document emphasizes the importance of understanding the tax consequences and available distribution methods for both active and inactive participants.

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How to use or fill out Sentry 401k Plan (For Sentry Employees) WITHDRAWAL REQUEST

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Click ‘Get Form’ to open the Sentry 401k Plan WITHDRAWAL REQUEST in our editor.
Begin by filling out the 'Participant Information' section. Enter your last name, first name, middle initial, mailing address, city, state, zip code, email address, and phone numbers. Ensure all details are accurate for effective communication.
In the 'Withdrawal Options' section, select the reason for your withdrawal and specify your employment status as either active or inactive. Provide relevant dates if applicable.
Choose your payment option carefully. If opting for a single sum or direct rollover, ensure you provide necessary account numbers and custodian information.
If requesting a hardship withdrawal, complete the additional sections regarding acknowledgment and purpose. Attach any required documentation to support your request.
Finally, sign the form in front of a Notary Public or a Sentry Human Resources Representative to validate your request before submission.

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Got questions?

We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

Can you withdraw money at any time from your 401k?

Generally, anyone can make an early withdrawal from 401(k) plans at any time and for any reason. However, these distributions typically count as taxable income. If youre under the age of 59, you typically have to pay a 10% penalty on the amount withdrawn.

Can I request a withdrawal from my 401k?

The IRS allows you to do this tax and penalty-free so long as you deposit the money into a qualified retirement account within 60 days of your withdrawal. If so, the agency considers this a rollover rather than a cash-out. However, after 60 days both income taxes and early withdrawal penalties apply.

What reasons can you withdraw from a 401k without penalty?

Here are the ways to take penalty-free withdrawals from your IRA or 401(k) Unreimbursed medical bills. Disability. Health insurance premiums. Death. If you owe the IRS. First-time homebuyers. Higher education expenses. For income purposes.

How to get approved for a 401k withdrawal?

Your plan document dictates when and why you can request a distribution, but most plans will allow a distribution for any of the following reasons: Your employment is terminated. Your employer dissolves your 401(k) plan. You become disabled. You pass away (funds would be distributed to your selected beneficiary)

Can my employer refuse to let me withdraw my 401k?

The answer depends on your employment status and your plans rules: While Employed: Many employers disallow in-service withdrawals altogether. Some may allow hardship distributions for urgent financial needs, but these are taxed and often incur a 10% penalty unless they qualify for IRS exemptions.