HOW TO SUBMIT FEDERAL TAX WITHHOLDING
When a participant receives a taxable distribution from the plan, the IRS requires a minimum of 20% be withheld from the distribution for federal income tax withholding. This amount must be remitted to the IRS. In many cases, your investment custodian performs this task for you. But if not, we’ve created handy step-by-step instructions that will walk you through the process.