Retirement Contributions & Withdrawals

“I withdrew from my 401(k) before retirement, what tax penalty hits me?”

Life eventQuick Question · 30 min · $95

Early withdrawals from a 401(k) often have both income tax and an added penalty component, but the exact outcome depends on the person’s age, the reason for the withdrawal, and whether any exceptions apply. The tax treatment can also vary based on whether the money came from pre-tax contributions, employer matches, or after-tax amounts inside the plan. In some cases, hardship, disability, separation from service, or other facts may change how the distribution is reported. The plan’s records and the Form 1099-R are usually important in determining how the withdrawal is handled. A CPA who reads your specifics can usually tell you, in plain English, where this lands.

In your 30-minute session, the KGOB advisor handling it will:

  • Read your exact situation and tell you, in plain English, what’s actually going on.
  • Lay out your options and the trade-offs — no jargon, no judgment.
  • Give you a clear next step you can act on, whether that’s with us or on your own.
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This page is a prompt to start a conversation, not tax or legal advice, and states no tax-law specifics as fact. A consult session does not by itself create an ongoing engagement. We do not promise specific outcomes or savings. Kohari Gonzalez Oneyear & Brown PLLC — Charlotte, NC.

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