Guest JDK Posted February 14, 2007 Posted February 14, 2007 We received a hardship withdraw from a participant in a case we are working on. The adoption agreement permits w/d from all sources. Salary deferrals we understand that only contributions can be withdrawn. We have Employer Match, Profit Sharing & Prevailing Wage sources are also available. The participant is 100% vested in all sources. For the aforementioned sources, is it permissible to disburse 100% of these sources. The adoption agreement & trust document do not provide specific direction in regards to this withdraw.
JanetM Posted February 14, 2007 Posted February 14, 2007 You can have HS form more than salary deferrals. But there are hoops to jump though first. Plan doc has to define hardship for starters. Old rev ruling - oh found it - 71-224 JanetM CPA, MBA
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