Aig valic hardship withdrawal form 2025

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The document is an Unforeseeable Emergency Withdrawal Form for VALIC Annuity Accounts under 457 Deferred Compensation Plans. It outlines the process for clients to request a distribution due to severe financial hardship, detailing required client information, reasons for withdrawal, tax withholding options, and necessary approvals from both the plan administrator and the client. The form emphasizes that distributions may be subject to surrender charges and tax implications.

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Click ‘Get Form’ to open the aig valic hardship withdrawal form in the editor.
Begin by filling out the CLIENT INFORMATION section. Enter your name, Social Security Number or Tax ID, daytime phone number, and date of birth.
In the DISTRIBUTION REQUEST section, specify the amount you are requesting due to financial hardship. You can also indicate specific accounts and fund codes from which you wish to withdraw.
Next, check the appropriate boxes in the REASON FOR DISTRIBUTION section that best describe your financial hardship.
Complete the INCOME TAX WITHHOLDING section by indicating your preferences for federal and state tax withholding.
Fill out the MAILING INSTRUCTIONS to specify where you want your distribution check sent.
Ensure that both the PLAN ADMINISTRATOR APPROVAL and CLIENT APPROVAL sections are signed as required before submitting.

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Got questions?

We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

Are hardship withdrawals hard to get approved?

Note that theres always a chance your request will be denied. Some employers may require you to prove that youve exhausted all other options for funding. If your employer doesnt deem your hardship as immediate or necessary, your request can also be turned down, OShea says.

What proof do you need for a hardship withdrawal?

Hardship withdrawals are very difficult to get approved, because you must prove that there is an ``immediate and heavy need for the money and that it is going to be used for one of the qualified reasons.

How do I get approved for hardship withdrawal?

If you request a total surrender/withdrawal of your Plan account and you have an outstanding loan, the account balance will be reduced by the outstanding loan balance and if applicable outstanding loan security will be returned to the account.

Can you withdraw money from Valic?

For example, some 401(k) plans may allow a hardship distribution to pay for your, your spouses, your dependents or your primary plan beneficiarys: medical expenses, funeral expenses, or. tuition and related educational expenses.

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