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Emergency Saving distribution from an IRA—what is new?

Answered by: 
Deborah Crawford

Question: 
Can customers take out $1000 without penalty for an emergency?
Answer: 

In 2024, the new distribution rules will allow a $1000 distribution due to emergency that can be repaid over 3 years.

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Learn more about Deborah Crawford’s Inherited IRAs and Other Year End Issues webinar.

First published on 11/12/2023

Filed under: 
Operations
Filed under operations as: 
IRA
HSA
Compliance/Compliance Management
New Accounts
Operations

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