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melodyd78
November 3, 2021
Question

If I took withdrawals from a 403b retirement plan in May 2021

  • November 3, 2021
  • 1 reply
  • 0 views
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1 reply

VolvoGirl
VolvoGirl
Employee
November 3, 2021

What is your question about that?   You will get a 1099R form in January to report it on your tax return. 

    M
    melodyd78Author
    November 3, 2021

    I'm not sure what happened, there was more to the question! 

     

    If I took an early withdrawal on my 403B in May 2021, will the 10% penalty be waived if it was COVID related under the new CARES Act? Will I still be able to pay it back over 3 years? 

    Critter-3
    Critter-3
    November 4, 2021

    No ... that exception was only for the 2020 tax year.  They have not yet said anything about extending it to 2021 and it is doubtful they will. 

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