I am currently employed with the company that has my 401k. Can I still get the money for reasons other than "hardship"?

I am currently employed with the company that has my 401k. Can I still get the money for reasons other than "hardship"? Asked by mike4674 15 months ago Similar questions: employed company 401k money reasons hardship Business > Financial Planning.

Similar questions: employed company 401k money reasons hardship.

It is very hard to do. Health reason are one. If you do find a way please be advised Uncle Sam will give you a Penalty of about 20% for taking it out early, plus you will be taxed about 20% plus what ever your State will take.

That will leave you with about 50%. So is it worth it or not to even think about doing? .

The only way you can get money from your 401k is by loan or hardship withdrawal. You can borrow up to your vested balance not to exceed $50,000. There is a financial hardship withdrawal, but that is subject to tax and 10% penalty.

There is also a non-financial hardshap withdrawal that waives the 10% penalty, but you still have to pay the tax. Other than that, you would have to terminate your employment, and then roll the 401(k) into a rollover IRA and then you can make withdrawals from the IRA subject to income tax and penalty.

" "can I take a hardship withdrawl from my 401 k on monies I just rolled over from another 401k" "I cashed out my 401k, now the company says they overpaid me and want their money from a year ago. " "Can a debt collector garnish my 401k hardship loan?" "Asked empoyer about withdrawing money from 401k, he tells me I can't withdraw or rollover without leaving company? " "Wants to do a 401k Hardship Withdrawal for first house but in spouses name--any way around?

" "if a company shuts down how long does a take to get your money if you cash out your 401k" "Is it legal for a 401k to not allow non hardship withdrawals?" "CAN YOU TAKE 2 HARDSHIP LOANS OUT OF YOUR 401K IN A YEAR-ONE FOR EDUCATION AND 1 FOR MOTGAGE? " "My employer does not invest in my 401k plan any longer since we have company stock. Should I move my 401 money?

Can I take a hardship withdrawl from my 401 k on monies I just rolled over from another 401k.

I cashed out my 401k, now the company says they overpaid me and want their money from a year ago.

If a company shuts down how long does a take to get your money if you cash out your 401k.

My employer does not invest in my 401k plan any longer since we have company stock. Should I move my 401 money?

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