I was auto-enrolled — can I get my money back? 

If you were automatically enrolled in your company’s Guideline 401(k) plan, it is possible to get your contributions refunded. But there are a few qualifications you need to meet.

To start, it depends on the type of auto-enrollment plan you’re enrolled in. If it’s an EACA plan (and most Guideline plans are) then it’s possible to request a refund.

You will also need to request a refund within 90 days of the first automatic contribution made on your behalf.

Finally, your contributions must be greater than $50, to ensure a sufficient balance to pay Guideline’s $50 distribution fee and have a balance remaining for distribution.

How can I begin my EACA Request?

If you meet all of the qualifications above, you are eligible to request a refund. Email support@guideline.com or call 888-344-5188 to start the process. If eligible, the completed refund form should be submitted within 5-7 business days from when you receive the document—any delays may put your refund eligibility at risk. 

How long until I receive my check?

Once you submit the refund request form via the Shared Files folder of your account, contact our participant support team to process the request. Standard processing and shipping will take approximately 3-4 weeks. 

Tax Implications

  • An EACA refund will be treated as a permissible withdrawal and included in your gross income for the year in which the refund was issued for tax purposes; however, a 10% tax penalty generally would not apply. (1)
  • The distribution will be included in the gross income of the year you request the refund.

(1) This information is for general education purposes only and not intended to be tax advice. We encourage you to consult a qualified tax professional before requesting a withdrawal.

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