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The scholars have differed on zakah due on 401(k) and adopted four main opinions:
1. Some have considered the zakatable amount to be that after subtracting penalties and taxes that would be due for early withdrawal, where such withdrawal is legally allowable, such as Dr. Main Al-Qudah: http://www.amjaonline.org/fatwa-23284/info. After this adjustment, one could calculate them similar to the zakat on passive investments e.g. stocks held for more than a year. — This is the fair opinion and we adopt the most.
2. Others have considered that no zakah would be due until he claims the retirement money, such as Dr. Walid al-Manisi: http://www.amjaonline.org/fatwa-2113/info
3. A third opinion holds that zakat is due on the entire amount in the 401(k). This is the safest opinion and clears a person from any doubt.
4. A 25% of the stock in a company is held as cash for business operations, so pay 2.5% zakat on the 25% of the amount in stock since only 25% is held as cash and the rest is at risk.
