NativeTxn7 t1_jace72l wrote on February 28, 2023 at 12:49 PM

You're over the limit where they could do an auto-cash out (usually, balances below $5K can be automatically cashed out depending on how the plan is set up). So, there shouldn't be a check just floating around while you're out of the country.

Ultimately, you should be able to leave it there as long as you want to (which is not a bad thing if it's a good plan with low fees and a good investment lineup), you could roll it to an IRA or your next company's 401k (assuming that 401k allows for rollovers coming in, which a majority do), or take a distribution (not advisable since you'd likely incur taxes and/or an early withdrawal penalty).

RoadsterTracker t1_jadcli0 wrote on February 28, 2023 at 4:58 PM

I've always done my own IRA, it just seems better to keep it in my control. But there are other options.

brundylop t1_jaddz77 wrote on February 28, 2023 at 5:07 PM

For people whose income is above the Roth IRA eligibility threshold, a Traditional Rollover IRA will limit their ability to perform a Backdoor IRA conversion due to the pro-rata rule