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D
d_jstrand
February 11, 2021
Question

How do we report early withdrawals from a 401K in 2020 under the Cares Act?

  • February 11, 2021
  • 1 reply
  • 0 views
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1 reply

M
MinhT1
February 11, 2021

If you are affected by Covid-19, your early 401(k) withdrawals (up to $100,000) will be exempted from the early withdrawal penalty of 10%.

 

However, at this point in time the Form 8915-E (Qualified 2020 Disaster Retirement Plan Distributions and Repayments (Use for Coronavirus-Related Distributions)) is not finalized. We currently do not have an estimated date when the form is ready.

 

Please sign-up here and we will email you once the form is live.

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