Guest TPA Guy Posted December 19, 2005 Posted December 19, 2005 We know that if a Hurricane Katrina victim wants to take a Hardship withdrawal that they do not have to pay the 10% penalty. (IR-2005-96 under 7508A of the IRC) Pretty much all of our plans have language in place to accommodate that. The question is, If a participant terminates, do they still have to pay the 10% penalty or does it go back to the above regulation????
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