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).
2 Things You Need To Know About a 401k Loan. If youâre considering taking out a loan against your 401k, there are two things you should know. Firstly, there are limits to the amount you can borrow. In general, you can borrow the lesser of $50,000 or one-half of your retirement plan balance.For example, if your 401k balance is $200,000, you could only borrow $50,000, not half of your plan balance.isadvantages of borrowing against your 401k. It is important that you understand the reasons why many financial experts advise against taking a loan from your 401(k). Many people believe that a 401k loan should be your last resort as there are some disadvantages to a 401k loan.