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PRIMARY PHONE: SCHOOL DISTRICT PLAN NUMBER: Note: All checks issued by Voya Financial are mailed to your current address on record. Before submitting this form, please contact a Customer Service Associate or go online to verify that the Plan has your current address. Failure to do so may result in your check being mailed to an incorrect address. The contact information is available on the last page of this form.

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How to fill out the Calstrs Hardship Withdrawal online

This guide is designed to assist you in completing the Calstrs Hardship Withdrawal application online. It aims to provide clear, step-by-step instructions for each component of the form, ensuring that you can submit your application with confidence.

Follow the steps to successfully complete the form.

  1. Click ‘Get Form’ button to obtain the Calstrs Hardship Withdrawal application and open it in the editor.
  2. Fill out your personal information clearly. This includes your name, social security number, primary phone number, and school district plan number. Ensure that all details are accurate to prevent any delays.
  3. Review the Hardship Requirements carefully to confirm your eligibility for a hardship withdrawal. Make sure you understand the criteria before proceeding.
  4. Select the amount type from which you wish to withdraw funds. Indicate whether you elect to receive funds from your designated Roth accounts and specify the amount you wish to withdraw.
  5. Choose your tax withholding options. Decide whether you want federal and state taxes withheld and indicate any additional amount to be withheld if applicable.
  6. Select your delivery method for the withdrawal. You can choose first-class mail, expedited delivery for a fee, or set up automated clearing house (ACH) deposits.
  7. Indicate the reason for your hardship withdrawal. You will need to provide supporting documentation for the chosen reason.
  8. Review all information on the application. Ensure that no required information or documentation is missing, as this could delay processing.
  9. Sign the application and date it. Make sure to check the authorization box confirming truthfulness in your claims.
  10. Finally, save your changes. You can download, print, or share your completed application as necessary.

Complete your Calstrs Hardship Withdrawal application online today!

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Reasons for a 401(k) Hardship Withdrawal A 401(k) hardship withdrawal is allowed by the IRS if you have an "immediate and heavy financial need." The IRS lists the following as situations that might qualify for a 401(k) hardship withdrawal: Certain medical expenses. Burial or funeral costs.

A retirement plan may, but is not required to, provide for hardship distributions. Many plans that provide for elective deferrals provide for hardship distributions. Thus, 401(k) plans, 403(b) plans, and 457(b) plans may permit hardship distributions.

401(k) plans A hardship withdrawal allows the owner of a 401(k) plan or a similar retirement plan (such as a 403(b)) to withdraw money from the account to meet a dire financial need. Hardship withdrawals are treated as taxable income and may be subject to an additional 10 percent tax (and usually are).

If you no longer work in a CalSTRS-covered position, you can leave your money in CalSTRS until you reach 70½ or request a refund.

To be eligible for a hardship withdrawal, you must have an immediate and heavy financial need that cannot be fulfilled by any other reasonably available assets. This includes other liquid investments, savings, and other distributions you are eligible to take from your 401(k) plan.

If you're younger than 59½ and suffering financial hardship, you may be able to withdraw funds from your retirement accounts without incurring the usual 10% penalty. Not all hardships qualify, however, and you're still responsible for paying income tax on the withdrawal.

Eligibility for a Hardship Withdrawal Immediate and heavy expenses include the following: Certain medical expenses. Home-buying expenses for a principal residence. Up to 12 months' worth of tuition and fees.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
Privacy Notice
Legal Hub
Content Takedown Policy
Bug Bounty Program
About Us
Blog
Affiliates
Contact Us
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate WorkFlow
DocHub
Instapage
Social Media
Call us now toll free:
+1 833 426 79 33
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232