New IRA/401k Rule for 2024

{{ Domestic abuse victims under age 59½ can now take up to $10,000 from their IRAs or 401(k)s without paying the 10% penalty tax. }}

No word on whether you can self-identify as a “Domestic abuse victim”, or if you need a doctor’s note, or police report to qualify.


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Here’s a snip from Fidelity PowerPoint Presentation ( that says victims self-certify for up to 1 year:


It looks like the plan will be able to set their own requirements for what that self-certification requires, just like they set the requirements for what is required for a hardship withdrawal.



Is there a rule for how long the money has to be at that particular custodian? For example, can you transfer your IRA to a custodian with loose requirements, take the penalty-free withdrawal, and then transfer back to your original custodian, all within a single year? Or even better, transfer $10,000 to a custodian with loose requirements, take the penalty-free withdrawal from that new IRA, and then close the account?

I don’t see rules about length of time at the custodian, other than the amount must be vested. That said, unless you agree to pay the money back over a maximum of 3 years, only the penalty is waived, not the taxes. If you agree to pay the money back, you probably can’t close the new IRA in your example.


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