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This table is a list of Fees and Qualified Distribution Lists for certificates.
  IRS Penalty Broadview Penalty
Early Withdrawal Additional IRS penalties may apply. Penalty for breaking the Certificate, based on amount withdrawn and the original term length; exceptions are made for withdrawals intended to cover a required minimum distribution.
Early Redemption Additional IRS penalties may apply. Distributions are usually subject to a Broadview penalty; exceptions are made in the case of the member having died

Qualified Distributions List

This table is a list of Fees and Qualified Distribution Lists for certificates.
Item IRS Penalty
IRA owner will be at least 59 ½ years old in the applicable tax year None
IRA owner becomes disabled or has died None
Funds used for qualified higher education expenses None

Funds are used for a “first-time” home purchase “first-time” home purchase means:

  • The home must be purchased by a grandparent, parent, spouse, child, or grandchild of the IRA owner, or by the IRA owner
  • The home purchaser may not have had his or her name on a mortgage deed in the last three years
  • There is a lifetime limit of $10,000 which can be distributed from the Roth IRA for this purpose
Funds are used for medical insurance premiums, provided the IRA owner has been receiving unemployment insurance payments for at least 12 weeks None
Funds are used to pay the portion of unreimbursed medical expenses in excess of 7.5% of the owner’s adjusted gross income None
A withdrawal program has been set up as a series of “Substantially Equal Periodic Payments” that are taken over the owner’s life, and are based on the owner’s life expectancy None
Once this program is set up, it cannot be changed for five years None
All other withdrawals Generally, 10% of the withdrawal


Broadview Product Rates