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Experts: Caution clients about coronavirus withdrawals

14 Jun 2020 5:11 PM | Kathy Countryman (Administrator)

Experts: Caution clients about coronavirus withdrawals

Advisors should warn clients about the dangers of obtaining coronavirus hardship withdrawals from their retirement plans if they don't meet the requirements stated in the Coronavirus Aid, Relief and Economic Security Act, industry experts say. "Down the line, if IRS discovers the issue on audit, the participant can be subject to substantial penalties," one lawyer said.

Full Story: PlanAdviser online (6/11) 


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