How Do You Make Withdrawals From A 401K Due To Permanent Disability?
When it comes to living the life, the unexpected can throw a big wrench into the future. And when someone has an accident or is diagnosed with a condition that gives them a permanent disability, it can be quite scary when it comes to paying the bills. Well, if you have a permanent disability you can withdraw from your 401k early and get the money you need. Receive proof of your permanent disability. Some disabilities are quite obvious, while others, such as mental health issues, may fall into a gray area. Get paperwork from the appropriate professional who concurs with your opinion that you have a permanent disability. Hang onto this paperwork, as you will need to copy it for several entities. Contact your 401k company and ask about the policy on how to receive early withdrawals for a permanent disability. They will send you paperwork to fill out which will include you needing to provide that proof of your disability. Otherwise, they will have to asses the 10 percent penalty the IRS re
