Excess Distributions From Section 401(a), 403(a), 403(b) Retirement Plan Or Ira
Definition of "Excess distributions from section 401(a), 403(a), 403(b) retirement plan or ira"
Plan wherein total withdrawal or income payments from tax deferred savings plans exceed $150,000 in any one year. An excess distribution tax of 15% of the amount greater than $150,000 must be paid to the Internal Revenue Service.
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