How To Pay Zakat On 401k?
401k is treated just like pension. Zakat is paid at the rate of 10% on withdrawals for salaried retirees excluding any amount exempt by the state. If any portion of it is saved and becomes your asset then you pay the asset zakat on that portion in the future. Please enter appropriate numbers in our Zakat Calculator after reading description for each box. You can put any 401k withdrawals in the pension box. When you reach the end, it will generate a statement showing you exactly what you owe after any applicable deductions, and what percentage was applied to what. It’s also a great way to learn the sharia of zakat. View Zakat Calculator