What if I have a Loan, my company is sold, but I want to withdraw any remaining money in my 401 insead of Rolling it over. What am I looking at for taxes, also I am over 55. Is there any way that the loan payment can still keep coming out of my pay with my new employer?
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401K Withdrawal/ With Loan
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 duchess0329 |
401K Withdrawal/ With Loan |
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Posts: 1 (04/10/08 19:11:07) |
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DCK101 |
Re: 401K Withdrawal/ With Loan | ||
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Posts: 390 (05/04/08 03:49:02) Elite Member |
Upon the sale of the company, were you informed that you would be given the right to access your account? Sometimes the plan assets are simply transferred into the new owner's plan. In the case of a transfer, you should be able to continue your loan payments as you did before, however you would not have access to your account for a distribution or rollover. |
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