1、 https:/crsreports.congress.gov Updated March 27, 2020Withdrawals and Loans from Retirement Accounts for COVID-19 ExpensesThe economic repercussions of COVID-19 could reduce Americans economic security; in response, individuals may view their retirement accounts as a source of funds to help meet cur
2、rent expenses. They may be able to withdraw from their defined contribution (DC) retirement accounts (such as 401(k) plans, 403(b) plans, and the Thrift Savings Plan (TSP) or from their traditional or Roth Individual Retirement Accounts (IRAs). In addition, DC plans may allow participants to borrow
3、from their accounts. Withdrawals from Retirement Accounts In general, withdrawals from DC plans are not allowed until retirement. However, DC plans may allow individuals to withdraw funds for a financial difficulty, referred to as a hardship distribution. Withdrawals from traditional or Roth IRAs ar
4、e allowed for any reason. Individuals who take a hardship distribution from a DC plan or withdraw from an IRA (1) must include the taxable portion of the distribution in that years taxable income and (2) may face a 10% penalty on the amount withdrawn. The penalty is meant to discourage the use of re
