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This Web site contains a compilation of more than a thousand consumer finance  columns written by Tony Novak from the 1980s through 2006, updated and reformatted for maximum usefulness today.  New material was added after 2010.

Content is the opinion of the author and does not represent the position of any other person or entity. Information is from sources believed to be reliable but cannot be guaranteed.

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Pension plan withholding

originally posted: 11/22/2006  reposted: 2/18/2011 This post has not been recently reviewed or revised by the author and may be out of date. If you notice an error or are in doubt, please send a new question by email or ask for an update. Email

Q: If federal withholding was erroneously withheld from a pension distribution that was rolled over, is there anyway to get that withholding back from the government now, as opposed to waiting until April of 2008 when a tax return is filed?.

A: No, that is why financial advisers emphasize the importance of having this type of transaction done right the first time with professional help. If the transaction had been handled by a professional who erred then you would have the right to legal recourse. But if you handled the paperwork yourself and sent it directly to the administrator then there is no recourse. Pension distribution paperwork is unnecessarily complicated with confusing with seemingly contradictory provisions. Unfortunately, processing delays and errant withholding problems like yours are common.


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