Question: We automatically enroll our employees in our 401(k) plan. One of our workers changed his mind and no longer wants to participate in the plan. Do we have to pay any early withdrawal fees or taxes on the amount we’ve already withheld for him?

A: As long as the withdrawal occurs within the first 90 days of the employee’s initial elective contribution to your 401(k) plan, says IRS, the money can be withdrawn and returned to the employee with no additional fees. In addition, the 10% tax on early 401(k) distributions doesn’t apply. However, the entire amount…