Go one penny over this amount and a report must be filed (currency transaction report). If you deposit checks or have the money wired in or direct deposited there is no form. It is for CASH only, going in or out of the bank.
The short answer is that yes, you can roll the funds from a traditional IRA into a 401(k) as long as the 401(k) plan allows it.The same goes for doing a rollover into a 403(b). The slightly longer answer is that you can only roll over tax deductible contributions and earnings.he short answer is that yes, you can roll the funds from a traditional IRA into a 401(k) as long as the 401(k) plan allows it. The same goes for doing a rollover into a 403(b).
Early Withdrawal. The IRS lets you tap your 401(k) early for hardship withdrawals -- money you need to pay for medical bills, a home or college expenses -- although not all plans allow this. If you make an early withdrawal, add a 10 percent tax penalty to the regular income tax you're paying.If you take out $10,000, for instance, $1,000 goes to the IRS no matter what tax bracket you're in.arly Withdrawal. The IRS lets you tap your 401(k) early for hardship withdrawals -- money you need to pay for medical bills, a home or college expenses -- although not all plans allow this. If you make an early withdrawal, add a 10 percent tax penalty to the regular income tax you're paying.