Do you have to pay your 401k back

Pros: You’re not required to pay back withdrawals and 401(k) assets. Cons: If you take a hardship withdrawal, you won’t get the full amount, as withdrawals from 401(k) accounts are generally taxed as ordinary income. Also, a 10% early withdrawal penalty applies on …

If you have a 401 (k) loan but your employer hasn’t reopened, you’re probably still on the hook to repay the loan, says Virgil Rutili, a certified financial planner in Chicago. “My …

Taking a 401k loan or withdrawal | What you should know | Fidelity

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Score: 4.3/5 ( 52 votes ) The CARES Act waives the 10% penalty for early withdrawals from account holders of 401 (k) and IRAs if they qualify as coronavirus distributions. If you qualify under the stimulus package (see above) and your company permits hardship withdrawals, …

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