Pacun Posted April 14, 2020 Report Share Posted April 14, 2020 Doesn't any one know the rules about the penalty waiver and also the 3 years repaying options for 401k withdrawals? Is that for all 2020 withdrawals or is there a time window when the withdrawal needs to take place? Is there a rule that you must be affected by the coronavirus? Quote Link to comment Share on other sites More sharing options...
Lion EA Posted April 14, 2020 Report Share Posted April 14, 2020 The details are in The CARES Act. Waive 10% penalty for withdrawals not exceeding $100,000 on or after 27 March through 31 December 2020. Inclusion in gross income over three years. Repayment over three years (be careful of one rollover per year rule). For details of "affected by the coronavirus" see the details in the Act; it's pretty specific. Quote Link to comment Share on other sites More sharing options...
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