One-time withdrawal
A lump-sum payment can be made at any time between June 1, 2024, and May 31, 2025.
Example: A saver contributes $5,000 on November 17, 2024.
Automatic withdrawals
Weekly, bi-weekly, or monthly withdrawals can be made between June 1, 2024, and May 31, 2025, at the saver's discretion.
Example: A saver divides his $5,000 contribution into monthly withdrawals starting September 1, 2024, and ending February 1, 2025.
