Series 53: Nonqualified Withdrawals

Taken from our Series 53 Online Guide

Nonqualified Withdrawals

Money from the account may be removed at any time for non-educational purposes, but the earnings will be taxed at the contributor’s ordinary income level and subject to a 10% penalty. Withdrawals of the contributions (the principal) will not be taxed and are not subject to the 10% penalty, because all con

Since you're reading about Series 53: Nonqualified Withdrawals, you might also be interested in:

Solomon Exam Prep Study Materials for the Series 53
Please Enable Javascript
to view this content!