⚠️ What is the penalty for a non-qualified HSA withdrawal?

Ordinary income tax plus a 20% penalty if you are under 65. After 65 the penalty disappears and only income tax applies.

Under 65, a non-qualified distribution is hit twice:

  • Ordinary income tax at your marginal rate
  • A 20% additional tax on top

On a $5,000 unsupported withdrawal in the 24% bracket, that's $1,200 in income tax plus $1,000 in penalty — $2,200 gone from a $5,000 withdrawal.

The 20% figure is worth noting. It's double the 10% early-withdrawal penalty on retirement accounts, and it applies at any age below 65.

At 65 and older, the 20% penalty disappears entirely. Non-qualified withdrawals are simply taxed as ordinary income, which makes an HSA behave like a traditional IRA — with the upside that qualified medical withdrawals stay completely tax-free.

Note what this means for missing documentation: a distribution you were entitled to make becomes penalized if you can't prove it. The tax isn't punishing the withdrawal. It's punishing the missing paperwork.

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