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If the account holder of a 401k dies can the beneficiary withdraw funds without penalty?
Wiki User
∙ 14y ago
Yes. One of the exclusions to the 10% penalty is if you're receiving these monies as a beneficiary or a QDRO recipient. (QDRO - Qualified Domestic Relations Order. Recieved from a divorce settlement.)
Wiki User
∙ 14y ago
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When Can you withdraw money from you IRA account?
can be withdrawn without ten percent IRS penalty after age 59 1/2
At what age can you withdraw from 401k without penalty?
You can withdraw beginning at age 59 1/2.
What age can you withdraw all your money without a penalty?
From an IRA 59 1/2
How do you withdraw from a fixed deposit account?
You cannot withdraw from a fixed deposit account without cancelling the note, which will likely incur a cancellation fee...
Does the youngest annuitant have to be over 59.5 to withdraw from annuity?
Yes, if you want to take it without penalty.
What is the maximum amount a first-time home buyer can withdraw from an IRA without penalty?
$10,000
At what age can a person withdraw funds from their traditional IRA without a penalty?
62 1/2
How do you withdraw from your 401k after age 59?
The question should say "age 59 and 1/2 years." For whatever reason, 59.5 years is the age at which you can start withdrawing funds from your 401K without penalty. Before 59 and 1/2, the penalty for early withdrawal is 10% of the taxable amount of your withdrawal. You can also withdraw money from your fund without the 10% penalty if you are leaving your employer when you are at least 55 or you become disabled. If you are eligible to withdraw money from your fund then you have to pay income taxes on the withdrawal. However, you do not have to pay income taxes if the money you withdraw go into a different employer sponsored plan or an Individual Retirement Account (IRA).
Under what circumstances can you withdraw from a 401K without a penalty?
If you cannot get money from any other source and you need money for something like staving off foreclosure (financial hardship), you can withdraw money with no penalty. Taxes would be need to be paid and you can only withdraw the exact amount you need.
Which is a feature of a Roth IRA?
you can withdraw your earnings once your 59.5 old without paying a penalty. screw plato
What is the maximum you can withdraw from my bank account in cash without filling out IRS forms?
4000
How do you take money out of the bank without bankrobbing?
Make a bank account and ask to withdraw.......
