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February 3, 2025
Question

Does open-heart surgery and the inability to return to work qualify as a disaster for obtaining IRA early, I was 64 at the time?

  • February 3, 2025
  • 1 reply
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    1 reply

    February 3, 2025

    As you were 64 at the time of the IRA withdrawal, it is not an early withdrawal and is not subject to the withdrawal penalty.

     

    You do not need any special circumstance for your withdrawal after age 59 1/2.

     

    Your withdrawal is not a disaster distribution. You pay income tax on the amount withdrawn with no penalty.

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