Felicia Posted November 28, 2005 Posted November 28, 2005 KETRA provides relief from the 10% early withdrawal penalty for individuals who resided in an area designated as eligible for Individual Assistance. Queries: does the relief (from the 25% early withdrawal penalty) extend to distributions to individuals who participanted in a SIMPLE IRA for less than two years? Does it matter if the employer no longer exists? (In this case, the employer is no longer in business.) Thanks for your input.
E as in ERISA Posted November 30, 2005 Posted November 30, 2005 It would also waive the 25%. The IRS issued guidance today on KETRA. http://www.ustreas.gov/press/releases/repo....113005.end.pdf
Felicia Posted December 1, 2005 Author Posted December 1, 2005 Thanks. Caught that too. Official guidance is in IRS Notice 2005-92.
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