| Adjusted Closing Balance
- 401(k) Retirement Glossary & Terminologies

Fair market value of a retirement plan before the close of a computation
period which is the period beginning immediately before the time
the contribution or conversion that is being re-characterized from
a 401(k) to an IRA was made to the IRA including any distributions
or transfers. Adjusted closing balance also includes:
- Any distributions from the IRA
- Transfers from the retirement account
- IRA re-characterizations
The term adjusted closing balance is cited in
IRS
form TD9056
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