Is a Roth IRA a tax-sheltered annuity? No, but anindividual retirement account (IRA)canhold annuities, which are a type of insurance. Can you withdraw money from a tax-sheltered annuity? Yes, under these circumstances: Financial hardship13 ...
From the perspective of the Internal Revenue Service, the agency's withdrawal of the cash from your 401(k) account is classified as a hardship withdrawal in that it's an "immediate and heavy financial need." Your employer, however, must have structured your plan to account for hardship with...