How do I withdraw from 401(k) without a penalty?
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You must wait to withdraw from your 401(k) until you are at least 59½ years old to take the distribution without penalty. The 10% penalty for withdrawing early is applied if you withdraw before you are at least that age.
Traditional 401(k)s are tax-deferred on the front end, meaning that you don’t pay tax until you withdraw the amount. If you withdraw early, the 10% penalty is added to any taxes you owe.
Table of Contents
FAQ
You got this—all you have to do is start!
We make filing taxes delightfully simple with our flat–rate price. Every feature included for everyone.
Start filingMore Tax Guides
FAQ
Coronavirus Pandemic News and Resources
Tax Reform 101
Tax-Related Identity Theft
Filing Your Taxes 101
For Students and New Grads
Taxes for Families
Affordable Care Act
Taxes and Your Job
Taxes for the Self-Employed
Tax Breaks for Homeowners
Health and Life Insurance
Investing and Retirement
Tax Savings Strategies
Tax Terms
IRS Tax Dates
Disaster Relief
State Taxes