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See more paychex distribution request form versions

We've got more versions of the paychex distribution request form form. Select the right paychex distribution request form version from the list and start editing it straight away!
Versions Form popularity Fillable & printable
Paychex RS0079 2019 4.8 Satisfied (144 Votes)
Paychex RS0079 2012 4.4 Satisfied (520 Votes)
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Access up to $500 of earned wages between paychecks Employees can transfer the money to their bank account, prepaid or debit card, or pick as cash at any Walmart Money Center. The accessed money is deducted from the next paycheck.
Paychex will process your distribution within 10 business days of receiving your online request; however, please allow additional time for delivery of a distribution check.
They will need to initiate the rollover from their old 401(k) plan. In most cases, there will be a few forms to fill out that will initiate a distribution of their current retirement balance to their new account provider.
If a 401(k) plan participant withdraws funds from their plan before age 59½, they would be subject to a 10 percent early withdrawal penalty from the IRS. In California, taking early distributions from a 401(k) also means incurring an additional 2.5 percent state tax.
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