[Bloody Sam Roberts]

I've looked for that info and don't see it. Do you have a link? If so, I'd be interested to read more.

What I did find;

1. Your 401(k) is not exempt from garnishment or seizure if you owe federal income taxes in arrears. In general, if you are eligible to take a distribution from your 401(k), even with penalties, the IRS can seize it to settle your debt.
2. The custodian of the account holds title to your assets for your benefit and reports to the IRS. The plan administrator carries out operations for the plan based on your instructions. If you’re concerned about your 401(k) in the event of a bank collapse, the impact will depend on several factors.
   If a custodian fails, there are measures in place to protect investors’ assets.
   The Securities Investor Protection Corporation (SIPC) provides insurance coverage of up to $500,000 for securities and cash that are in custody of a brokerage firm that fails.
   
3. So, if the custodian were to fail, investors’ assets would be protected up to the insurance limit.
   You could also look to see if a bank that failed is affiliated with administering your 401(k) plan.
   In many cases, 401(k)s are administered by separate investment institutions rather than banks.
   Some examples of these investment firms are Charles Schwab, Fidelity Investments, Principal Financial and Transamerica.

[eyeamok]

I searched for it too a while back and couldn’t find it, but I remember when it happened and I read it around 2009-2010 before I sold my house in Simi Valley and moved. It has been buried and deleted from the internet, but it will soon be resurrected.