ASC HARDSHIP FORM
  • ASC HARDSHIP REQUEST FORM

  • A copy of a valid government issued photo identification is required to process this request.

    If you elect to receive this request as a direct deposit/ACH, attach a voided check or bank statement that contains the valid routing number and bank number.

    Incomplete submissions will not be accepted.

  • General Information

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  • INSTRUCTIONS

    •You must certify that you have an immediate and heavy financial need that necessitates a hardship withdrawal (section A below).

    •You must certify that you have no other source of funds to cover this hardship expense (section D below).

    •The amount you request cannot be greater than what is required to satisfy the financial need plus what is required to pay the taxes and penalties you owe as a result of the withdrawal.

    •There may be restrictions on what money you can withdraw. For example, you cannot withdraw Retirement account earnings made after December 31, 1988. Please refer to the Summary Plan Description or Plan Document for specific requirements.

    •There is a $50.00 check processing or ACH fee for distributions

  • A. Reason For Withdrawal Request

  • I understand that a withdrawal of salary deferrals will be considered due to financial hardship only to the extent that the amount of the withdrawal is necessary to satisfy an immediate and heavy financial need. I understand that this withdrawal will be taxed as ordinary income in the year in which it is received, and may also be subject to state taxes (where applicable). In addition, a 10% penalty tax will apply unless I am at least 59½ years of age or I use the funds withdrawn to pay certain deductible medical expenses as provided by law. The IRS allows the following reasons for taking a hardship withdrawal in the Plan. Please check ONE of the options below to describe your financial hardship need.

  • B. Withdrawal Amount

  • I hereby request a withdrawal of salary deferrals of the type elected above. I have read the above language and understand the tax implications of this withdrawal. I wish to withdraw the amount indicated below.

  •       The following amount: $ net. (Certain restrictions may not allow you to withdraw the full amount requested.)

  • C. Payment Instructions

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  • Certification: I certify that the need indicated in Section A is true, that the amount requested on my Hardship Request Form does not exceed the amount of this need plus taxes and penalties, and that I have obtained all other withdrawals and loans available under my Company-sponsored Retirement Plan. As a condition of receiving a hardship distribution, I certify that I have insufficient cash or other liquid assets reasonably available to satisfy the hardship need. I also understand that the maximum amount I can contribute next year cannot exceed next year's legal limit minus the amount I contributed this year (if any).

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  • A copy of a valid government issued photo identification is required to process this request.

    If you elect to receive this request as a direct deposit/ACH, attach a voided check or bank statement that contains the valid routing number and bank number.

    Incomplete submissions will not be accepted.

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