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posted Feb 25, 2021 6:20:16 PM

Input CSA Form 1099 and Getting Charged a Early Redraw Penalty

I retired at 56 with a pension.  I was eligible and it was NOT an early retirement.  Why am I getting a penalty?   I was told to fill out Form 5329 but do not understand.   Is it a SIMPLE retirement?  

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Expert Alumni
Feb 25, 2021 6:33:15 PM

Normally an early retirement is any age before 59 1/2. Please view this IRS link for further details.