Am I liable for a corporate accounting mistake 2 years later?

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Am I liable for a corporate accounting mistake 2 years later?

I received a letter from an employer that I left over 2 years ago. At the time that I quit, I rolled over my 401k into my own IRA, and then cashed it out. Now, the company is just informing me that I have received overpayment of benefits and that I owe them the amount back, plus tax.

Asked on December 31, 2012 under Employment Labor Law, Nebraska

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

Unless the former employer can demonstrate with particularity that you received money that you were not entitled to over two (2) years ago, you have no legal obligation to comply with the recent demand made of you. Note, the statute of limitations to file suit for the matter that you have written about is typically four (4) years from the payment.


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