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The IRS has granted an exemption to those affected by the recent hurricane and flooding.
They are allowed to take penalty free Hardship Withdrawals from their 401k / 403b / IRA/ etc. regardless of age.
The cumbersome procedure for this is being relaxed as well.
The rules and procedures for Loans are being loosened too.
Here is the IRS announcement:
https://www.irs.gov/newsroom/retire...-distributions-to-victims-of-hurricane-harvey
If you know anyone affected by the storm please let them know about this.
They are allowed to take penalty free Hardship Withdrawals from their 401k / 403b / IRA/ etc. regardless of age.
The cumbersome procedure for this is being relaxed as well.
The rules and procedures for Loans are being loosened too.
Here is the IRS announcement:
https://www.irs.gov/newsroom/retire...-distributions-to-victims-of-hurricane-harvey
If you know anyone affected by the storm please let them know about this.