puneet.maini[at]gmail.com wrote:
- quote -

Yes the 10% penalty is on the entire withdrawal and income tax is also
due on the entire amount. I don't know what the rules are for taking
such money back home (outside US). Someone who has knowledge of that
might reply as well.
JOE

Guys,

Do you know what is the exact amount on which 10% penalty is imposed
when you would withdraw money from your 401(k) account? Is it on the
absolute amount you have in your 401(k) account?

Some background info abt me:
I work here in US, but plan to move/settle back overseas after like 3-4
years.

Basically I want to know:
Can I still make some money after the 10% penalty taking into
consideration the money contributed by employer?


Here's the calculation I have:

My Contribution (1 yr) : 3917.99
Employer Contribution (1 yr) : 1958.99

Total (1 yr) : 5876.99
Approx 5 % investment gain : 6170.84

Now, if I would like to withdraw this money what all expenses would I
have to be ready for.

Would the 10% penalty be on 6170.84 ?
On what amount would I have to pay taxes - my + employer contribution?


Thanks a lot in advance!
- Puneet Maini