Hardship Withdrawals
403(b) Hardship Withdrawals can only be requested under specific financial hardship situations. A Hardship Withdrawal is considered taxable income and will be reported to the IRS. You will not be able to put the money back into the retirement account once you withdraw it. Principal will deduct additional tax penalties from the withdrawal amount for penalties that you will owe to the IRS for withdrawing the funds before retirement age.
To request a Hardship Withdrawal log on to your account at Principal.com - Select My Options > Withdrawals > Explore a Withdrawals > Select "Request a hardship Withdrawal" > Follow the instructions as prompted to complete the request.
