I certify that I have read, and I understand, the below General Provisions and Taxability information and the online instructions. I also certify that I have a sudden and heavy financial need, and that I have maximized all available non-TRS resources before submitting this application.

If my withdrawal type is domestic abuse, I understand that I am not required to maximize all available non-TRS resources, provide documentation, and a description of my hardship circumstances. I certify that I read and satisfy the IRS requirements for a domestic abuse hardship withdrawal. I understand the total lifetime amount that can be withdrawn for a domestic-abuse hardship is $10,000.

General Provisions and Taxability

• You are responsible for the accuracy of your hardship claim.
• If your hardship withdrawal request is approved, you would also be responsible for paying any income taxes or penalty taxes that are due as a result of the withdrawal.
• Amounts distributed through a TDA or Roth hardship withdrawal are not eligible to be rolled over or transferred; therefore, a hardship withdrawal would be subject to federal income tax, and state and local taxes may apply.
• In addition, you may be subject to tax penalties if your payments of estimated tax and withholding are not sufficient under the Internal Revenue Code (IRC).
• You can elect to have 10% withheld from the taxable portion of your withdrawal and applied to your federal taxes for the year of distribution, or choose no withholding. Under both options, you are liable for any income tax that may be due on your hardship withdrawal, and you may be subject to tax penalties if your payments of estimated tax and withholding are not sufficient under the IRC.
• Your hardship withdrawal, if approved, would be a taxable distribution and would be reported to the Internal Revenue Service (IRS) in January following the calendar year in which it is distributed. For Roth hardship withdrawals, federal tax withholding applies only to the taxable portion of the withdrawal.
• Amounts distributed through a TDA and Roth hardship withdrawal are not eligible to be rolled over or transferred. Therefore, your withdrawal would be subject to federal income tax; state and local taxes may also apply.
• If a TDA loan is deemed a distribution in the same tax year in which you receive a TDA hardship withdrawal, the IRS would require TRS to withhold 20% of the taxable portion of the deemed distribution from the hardship withdrawal; this withholding would apply if your loan balance is deemed a distribution before your hardship withdrawal is processed, and would be in addition to any withholding required separately for the hardship withdrawal. The total amount withheld would be forwarded to the IRS and credited toward your taxes for the current year.

TRS suggests that you consult with your tax advisor should you have any specific tax questions.