10% Penalty Exceptions

All Plans

IRAs, Roths, SEPs, SIMPLE, Qualified Plans, and 403(b)s

  1. Deductible medical care expenses  (above 10% of AGI

  2. Disability

  3. Death

  4. Alternate payee under QDRO

  5. Substantially equal periodic payments (72t distributions)​​

IRAs, SEPs, SIMPLE IRAs, and ROTHS only

  1. Medical insurance premiums after separation from employment (requires 12 consecutive weeks of unemployment compensation)

  2. Qualifying first-time home buying expenses up to $10,000 (lifetime limit)

  3. Qualified higher education expenses for taxpayer, spouse, child, or grandchild

Qualified Plans and 403(b)s only

  1. Separation from service after reaching age 55