Retirement Planning

What is the penalty rate on a SIMPLE plan withdrawal in the fist year ?

Answer:

If you withdraw money from a SIMPLE IRA in the first 2 years, you will be subject to a 25% withdrawal penalty. This is 15% higher than a traditional IRA premature distribution penalty.
CPAdirectory
Answer Provided by: CPAdirectory

Share This Answer

Looking For More?

View all Retirement Planning Questions

View More Questions