Do you qualify?
To qualify for the tax penalty exemption:
- The account owner, their spouse or dependent must have been diagnosed with COVID-19 by a CDC-approved test, or
- The account owner must have experienced adverse financial consequences as a result of COVID-19-related conditions. For example, adverse financial consequences might include a delayed start date for a job, a rescinded job offer, quarantine, lay off, job furlough, reduction in pay or hours, a reduction in self-employment income, the closing of a business, an inability to work due to lack of childcare or other factors.
