What if a person owes Zakat to a retirement account but does not have the cash liquidity to pay from their available wealth?
The Fiqh Council of North America has ruled the following on this topic:If one’s due Zakat payment on such an account exceeds what one has the means to pay from […]
What is the argument for paying Zakat on restricted accounts?
Scholars who contend that one must pay Zakat on restricted accounts hold that one can, in fact, withdraw from a restricted account, even if one incurs a penalty, fees, and […]
Is Zakat owed on retirement accounts, such as a 401(k)?
Yes, if one has full, free access to the account.
Is Zakat owed on retirement accounts, such as a 401K?
Yes, if one has full, free access to the account.
