Legal Question in Wills and Trusts in Washington

401K account

What are the regulations concerning making loans from your 401K account ?


Asked on 3/31/07, 10:19 pm

1 Answer from Attorneys
Christopher Steuart IT Forensics, Inc.

Re: 401K account

The laws and regulations relating to withdrawals or loans from 401k accounts are quite extensive. As a general rule the fund manager would be the best person to contact to discuss the requirements and restrictions. Prior to 59 1/2 years you may general withdraw money for a down payment on a first home. You can borrow up to 1/2 of the funds in the account (requires a payment plan to structure repayment).

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Answered on 4/02/07, 3:51 pm


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