<prompt> Human: Hi! I recently switched employers and have a 401K with my previous employer. I would like to roll that amount into my new employers 401K. My new employer will only accept a check from me for the funds Id like to rollover. They said that they would need the distribution paperwork and a check from me with the funds in order to process the rollover. Thats fine.. but what will the tax and fee implications be for me? Since Im taking a disbursement from my 401K and am not at retirement age... I read that I will be taxed and will also pay up to a 10 penaltyfee. Id like to avoid all tax or fee implications. How can I do this?  <response>: Youre doing a direct rollover. No tax implications if the check from your old 401k gets deposited into your new one within 60 days. This is standard and happens all the time, both parties will know exactly what to do. As for fees, your old 401k may have a fee for closing the accountdistributing the entire amount, but usually its less than 100. 