skip navigation

Search Help
Navigation Help


Main Topics
A B C D E F G H I
J K L M N O P Q R
S T U V W X Y Z #


FAQs
Forms
Publications
Tax Topics


Comments
About Tax Map
IRS Tax Map 2008
Current IRS Tax Map

Frequently Asked Tax Questions

Pensions/Annuities/Retirement Plans (i.e., 401(k), etc.) - Plan Operations


Rev. date: 1/2010


My understanding is that the 10% additional tax on early distributions is forgiven if I am over age 55 and default on a loan through my 401(k) plan when I have a separation from service with my employer. Can you confirm that for me?

previous topic occurrence Additional Tax on Other Early Distributions next topic occurrence
previous topic occurrence Additional Taxes on Qualified Plans (including IRAs) and Other Tax-Favored Accounts next topic occurrence
previous topic occurrence Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc. (Info Copy Only) next topic occurrence
previous topic occurrence Lump-sum Distribution next topic occurrence
previous topic occurrence Penalty, Early Distributions from IRAs and Plans next topic occurrence
previous topic occurrence Pension and Annuity Income next topic occurrence
previous topic occurrence Profit Sharing Plan next topic occurrence
previous topic occurrence Qualified Plan next topic occurrence
previous topic occurrence Qualified Withdrawals next topic occurrence
previous topic occurrence Retirement Plan next topic occurrence

If you default on a loan from your 401(k) plan:
For example, the 10% additional tax on early distributions does not apply if all the following apply to you:
There are number of exceptions to the 10% tax on early distributions.  You may wish to refer to Publication 575, Pension and Annuity Income, and Publication 560, Retirement Plans for Small Business, for additional information.

Rev. date: 1/2010


Where can I find additional information on tax-favored retirement plans?

previous topic occurrence Annual Return of One Participant (Owners and Their Spouses) Retirement Plan next topic occurrence
previous topic occurrence Annual Return/Report of Employee Benefit Plan (Info Copy Only) next topic occurrence
previous topic occurrence Application for Determination for Employee Benefit Plan (Info Copy Only) next topic occurrence
previous topic occurrence Contributions (IRAs & Pension Plans) next topic occurrence
previous topic occurrence Coverdell Education Savings Account next topic occurrence
previous topic occurrence Distributions, Minimum Required next topic occurrence
previous topic occurrence Individual Retirement Arrangement next topic occurrence
previous topic occurrence Nondeductible Contributions (IRA) next topic occurrence
previous topic occurrence Penalty, Early Distributions from IRAs and Plans next topic occurrence
previous topic occurrence Retirement Plans for Small Business (SEP, SIMPLE and Qualified Plans) next topic occurrence
previous topic occurrence Roth IRA next topic occurrence
previous topic occurrence SEP-IRA next topic occurrence
previous topic occurrence SIMPLE IRA next topic occurrence
previous topic occurrence Tax Shelter next topic occurrence
previous topic occurrence The IRS Will Figure Your Tax next topic occurrence

The following IRS publications include additional information on retirement plans:
You may find additional information on the IRS website.