Tax Facts

IRS Provides Guidance on Exception for 401(k) Withdrawals for Qualified Birth or Adoption, Sept. 24, 2020

The SECURE Act amended the IRC to allow qualified plan participants to withdraw up to $5,000 for a qualified birth or adoption without becoming subject to the 10% penalty on early distributions. The distribution must be taken within the one-year period following the birth or adoption. For more information, visit Tax Facts Online.


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