answersLogoWhite

0

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.)

User Avatar

Wiki User

15y ago

What else can I help you with?

Related Questions

Can I withdraw my contributions from a Roth 401(k) without incurring a penalty?

Yes, you can withdraw your contributions from a Roth 401(k) at any time without incurring a penalty, as long as the account has been open for at least five years.


Can you withdraw Roth 401(k) contributions without incurring a penalty?

Yes, you can withdraw Roth 401(k) contributions without incurring a penalty, as long as the account has been open for at least five years and you are at least 59 and a half years old.


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can be withdrawn without ten percent IRS penalty after age 59 1/2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 generally withdraw from a 401(k) penalty-free starting at age 59½.


Can I rollover my Roth 401k to a Roth IRA and then withdraw my contributions?

Yes, you can rollover your Roth 401k to a Roth IRA and then withdraw your contributions without penalty, as long as the account has been open for at least five years.


Can PayPal withdraw funds directly from my bank account without my authorization?

No, PayPal cannot withdraw funds directly from your bank account without your authorization.


Can an employer legally withdraw money from your bank account without your permission?

No, an employer cannot legally withdraw money from your bank account without your permission.


What age can you withdraw all your money without a penalty?

From an IRA 59 1/2


What age can you withdraw part of your 401k without penalty?

You can withdraw from your 401(k) penalty-free starting at age 59½. Prior to this age, withdrawals may incur a 10% early withdrawal penalty on top of regular income tax.


What age can IRA be closed with no penalty?

You can withdraw funds from a Traditional IRA without penalties starting at age 59½. However, for a Roth IRA, you can withdraw contributions at any time tax- and penalty-free, but to take out earnings without penalties, you must be at least 59½ and have had the account for at least five years. Always consider taxes and specific rules that may apply to your situation.


Can my wife withdraw money from our joint account?

Yes, if your wife is listed as a joint account holder, she can withdraw money from the joint account without needing your permission.


Can someone withdraw money from my PayPal account without my permission?

No, someone cannot withdraw money from your PayPal account without your permission. PayPal has security measures in place to protect your account from unauthorized access.