Referring Cite
IRS § 72(t), Form 5329 and its instructions, IRS Publications 590 and 575
Additional Helpful Information
- The early distribution penalty applies to 457(b) plans, but only to amounts that are received in a direct transfer or rollover from another type of eligible retirement plan.
- If a 1099-R does not properly indicate whether the early distribution applies, the participant may file IRS Form 5329 to correct the reporting
