In re Clifton, No. 09-02379-8-RDD, 2012 WL 1028039 (Bankr. E.D. N.C. Mar. 26, 2012)

(Chapter 11 case in which debtor had interest in I.R.C. Sec. 401k retirement plan and claimed plan as exempt; case converted to Chapter 7; plan funds rolled over into IRA and then debtor withdrew funds after debtor turned 59 and 1/2; trustee claimed that IRA not scheduled or disclosed to court and is non-exempt; trustee requested turnover of withdrawn amounts; debtor claimed that 401(k) funds were ERISA qualified and claimed as exempt in Debtor's original schedules and that funds rolled over into IRA and continue to be exempt; record showed that at petition date funds frozen in I.R.C. Sec. 401(k) plan and was listed on original exemption schedules; lack of evidence that funds came from other than the plan; no penalty on withdrawals).