Savings Plan Distributions
Provisions of The Coronavirus Aid, Relief and Economic Security (CARES) Act can provide financial relief.
You may take coronavirus-related hardship distributions from qualified retirement plans of up to $100,000 without paying the 10% early distribution tax. You still must pay federal income taxes on these distributions, but the tax can be spread over a three-year period. If you pay back the distribution within three years, the tax will be refunded.
Fidelity can help you with benefits information and resources to help you more effectively manage your money and 401(k) savings.