credit cards or 401k?

[Zmc0229]

I am on unemployment benefits and did not report that I withdraw my 401k from my previous employer On my claim form because I didn't think I had to since I paid into it, not sure at this point what do to. Any advice?

[Ariadne22]

Originally Posted by Zmc0229

I am on unemployment benefits and did not report that I withdraw my 401k from my previous employer On my claim form because I didn't think I had to since I paid into it, not sure at this point what do to. Any advice?

• When did you first apply for benefits?
• When did you withdraw from the 401k?
• What is your weekly benefit amount?
• What is $$ amount of withdrawal?
• What state are you in?

[Chyvan]

Don't you also have to know if the employer contributed a matching contribution or if it was 100% fully employee funded?

[Ariadne22]

Originally Posted by Chyvan

Don't you also have to know if the employer contributed a matching contribution or if it was 100% fully employee funded?

This is true. However, because those withdrawals are reported on 1099s and it's unlikely UE office will find out about it anytime soon, depending on his state, I'm leaning to him not worrying about it until his UE office raises the issue - at which time he can plead ignorance and sort it out later. Reporting it now will trigger an investigation and his benefits will stop for a number of weeks until UE office can determine which part of that withdrawal needs to be reported. Not worth it in my opinion.