What can I do if I rolled over a 401K instead of taking it as inheritance? 5 Answers as of March 14, 2011I was misinformed when my husband passed away in 2007. I rolled over his 401k instead of taking it as inheritance. Can this be amended or changed to get the money without paying taxes and penalties?
Mankus & Marchan, LTD | Tony Mankus
If you were the beneficiary shown in your husband's 401k plan, you inherited it upon his death. Whether you rolled it over into an IRA, or not, taxes must be paid on it sooner or later, depending on the rules of the 401k plan.
Answer Applies to: Illinois