Hardship Withdrawal for Purchase of Residence

[Scott]

I am having trouble finding any guidance on what constitutes "costs directly related to the purchase of a principal residence for the employee (excluding mortgage payments)" under the safe harbor standard for hardship withdrawals.

Can anyone help me? What would those costs include? Down payment? Closing costs? Costs to construct a house?

[Jon Chambers]

Yes on down payment, yes on closing costs, probably not on construction costs (not clearly relating to purchase)

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Jon C. Chambers

Principal

Schultz Collins Lawson Chambers, Inc.

(415) 291-3004