401K statements

[frustrated7]

One of the things that the trustee requests from everyone in my district is the following: "Copies of statements for each of your bank and or/investment accounts, including checking, savings, money market, mutual funds, and brokerage accounts for the prior 6 month time period which includes the date of the filing of the Petition". My question is does this include our 401K? I don't mean to sound like an idiot, but I'm not sure if our 401K falls into this category and I am unable to print off statements for the past six months of our 401K, due to "account inactivity". (We haven't been putting any money into our 401K.) I was able to print a current snapshot of what we have in there, but it wouldn't let me print off anything else. Do you think this will be a problem? I already sent everything we had to the Trustee, but I don't want us to end up with a problem. The amount in there is only a couple of thousand. Anyone? Thanks for your help.

[Flamingo]

Yes, you need to provide the information on your 401(k). Whoever holds your 401(k) an easily provide you with what you need for update paperwork for you to provide to your attorney and trustee.

[BKParalegal]

I don't agree with Flamingo. There is not a district in the U.S. that does not have an exemption for 401(k)'s or any qualified retirement account. On the other hand most states do not have exemptions for Checking, Saving, Investment Accounts, etc., except for the wildcard in 14 states. They are looking for large sums of money that have passed through your account that may have not been explained, etc. In short, never provide more than necessary, and retirement accounts aren't included in that request.

Good Luck

[Flamingo]

While 401(k)'s are exempt, we had to provide our information as it is considered an "investment or savings" account and the attorney and trustee need to know if there are any loans on the 401(k) and, if so, the information involved. The 401(k) account balance and info needs to be provided but it is exempt. Also, your w-2's and other payroll information provided to the attorney/trustee will show either recent or past withholdings into a 401(k). I am just posting information as it occurred with our situation and also from other folks' experiences on here. When information is asked for by an attorney or trustee, provide it - a 401(k) is an investment/savings account for one's retirement. When in doubt, always check with one's attorney.