118th Congress · HOUSE BILLBILL

H.R. 2637 — To amend the Internal Revenue Code of 1986 to waive the early withdrawal penalty on certain distributions from qualified retirement plans.

“To amend the Internal Revenue Code of 1986 to waive the early withdrawal penalty on certain distributions from qualified retirement plans.”

Taxation

Introduced Apr 17, 2023

Last action Apr 17, 2023

Pipeline · Bill → Law

Step 1

Introduced

Apr 17, 2023

Step 2

Referred

Apr 17, 2023

Ways & Means

Step 3

Committee

Step 4

House floor

Step 5

Senate

Step 6

Resolve Changes

Step 7

Signed

SummaryCRS Summary

This bill allows a waiver of the 10% penalty on premature distributions from tax-exempt retirement plans where such distributions do not exceed the excess of $10,000 over aggregate plan distributions during a specified 5-year period.

Provisions · 1 sectionsIntroduced in House

Timeline · 2 actions

Apr 17, 2023

Introduced in House

Apr 17, 2023

Referred to the House Committee on Ways and Means.