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HARDSHIP WITHDRAWAL REQUEST FORM Plan Number: Social Security Number 40461 Plan Name: I/N Ten and I/N Vote 401(k) Savings Plan for Employees Represented by the USA Local 9231 Form Completion Checklist

How to fill out hardship withdrawal request form

How to fill out a hardship withdrawal request form:

1. Start by obtaining a copy of the hardship withdrawal request form from your employer or retirement plan provider. This form will typically be available online or through the human resources department.
2. Begin by entering your personal information on the form, including your full name, contact details, and employee identification number. Make sure to double-check the accuracy of this information before proceeding.
3. Indicate the reason for your hardship withdrawal request. Common reasons may include medical expenses, higher education costs, purchase of a primary residence, or prevention of eviction.
4. Provide supporting documentation for your hardship withdrawal. This may include medical bills, tuition payment receipts, purchase agreements, or eviction notices. Ensure that the documentation is recent and clearly demonstrates the need for a hardship withdrawal.
5. Calculate the amount of the withdrawal you are requesting. This is usually a specific dollar amount that you require to address your financial hardship. Be sure to follow any guidelines or limitations provided by your retirement plan.
6. Read and understand the terms and conditions outlined in the form. This may include information on taxes, penalties, and the impact on your retirement savings. If you have any questions or concerns, reach out to your retirement plan administrator for clarification.
7. Seek any necessary signatures. The form may require your signature, as well as the signatures of your spouse (if applicable) and a plan administrator or HR representative. Make sure all required parties sign the form before submitting it.
8. Make a copy of the completed form for your records. This will serve as documentation of your request and the information you provided.
9. Submit the hardship withdrawal request form to the appropriate party. This could be the human resources department, retirement plan administrator, or a designated contact person. Follow any instructions provided on where and how to submit the form.
10. Keep track of the status of your request. Depending on the retirement plan provider and the complexity of your situation, it may take some time to review and process your hardship withdrawal. Stay in contact with the relevant parties to ensure the progress of your request.

Who needs a hardship withdrawal request form?

1. Employees who are facing financial hardship and need to withdraw funds from their retirement accounts.
2. Individuals who have experienced specific qualifying circumstances, such as unexpected medical expenses, educational expenses, or housing-related circumstances that necessitate a hardship withdrawal.
3. Individuals who have a retirement plan or account that allows for hardship withdrawals. It is important to note that not all retirement plans offer this option, so it is necessary to check the plan's terms and conditions beforehand.

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What is hardship withdrawal request form?

Hardship withdrawal request form is a document used to request the withdrawal of funds from a retirement account due to financial hardship.

Who is required to file hardship withdrawal request form?

Individuals facing financial hardship and looking to withdraw funds from their retirement account are required to file the hardship withdrawal request form.

How to fill out hardship withdrawal request form?

To fill out the hardship withdrawal request form, you will need to provide information about your financial situation, the amount you wish to withdraw, and any documentation required by your retirement account provider.

What is the purpose of hardship withdrawal request form?

The purpose of the hardship withdrawal request form is to provide individuals with a way to access funds from their retirement account in case of financial hardship.

What information must be reported on hardship withdrawal request form?

The hardship withdrawal request form may require information such as the reason for the withdrawal, the amount requested, documentation of the financial hardship, and any other information requested by the retirement account provider.