Early Withdrawal Penalty Law and Legal Definition
Early withdrawal penalty is a fine when a taxpayer withdraws money from a savings plan, such as a certificate of deposit (CD), before its maturity date. For example: if a taxpayer withdraws prematurely from a fixed-term investment, such as a tax-deferred retirement plan, before age 59½.
Legal Definition list
Related Legal Terms
- Airborne Early Warning and Control System
- Antiterrorism and Effective Death Penalty Act of 1996
- Canonical Penalty
- Center for the Improvement of Early Reading Achievement [CIERA]
- Certificates of Withdrawal
- Civil Monetary Penalty
- Civil Penalty
- Clearly Erroneous Standard
- Clearly Established Federal Law
- Clearly Identified [Federal Elections]
