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Level 1

Question

What is a permissible section 414w withdrawal

Forum|Forum|3 years ago
February 2, 2023
2 replies
16 views

No text available

TurboTax Deluxe Online

Level 15

A permissable section 414W withdrawal is an allowed withdrawal from a pension plan that is categorized as 414W plan. Such a plan involves automatic contributions to a company or organization pension plan in the form of elective employee wage deductions. You then have an option to make withdrawals from the plan, which are taxable to the recipient. You can use this link to learn more about it: 414W arrangement

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Level 15

The distribution must be made within 90 days after the date of the first elective contribution.