Gross Withdrawal Amount
  Enter the gross amount you want calculated.
   
Federal Withholding Tax Rate
  Select 10% if you are taking a hardship withdrawal, otherwise select 20%. This is the amount the Internal Revenue Service (IRS) requires the Principal Financial Group to withhold for Federal Tax on distributions. The actual individual Federal Tax you pay may be more or less than what is withheld.
   
State Withholding Rate
  Some states require the Principal Financial Group to withhold individual State Tax on distributions. This illustration defaults to 5%. The actual individual State Tax you pay may be more or less than what is withheld.
   
Age 59 1/2 or older
  In most cases, a 10% penalty applies to withdrawals made prior to age 59 1/2. Please consult with your tax advisor about your specific situation.
   
Cash Withdrawal
  Cash withdrawals are only allowed according to plan provisions.
   
 
   
   
 
   
Modified by: PRINCIPALUSA\C865104DeferralCalc.html
New Form Import Edit Upload Submit