If you suffer a financial hardship, you might be able to withdraw money from your 401(k) plan
before you retire. Some 401(k) plans may allow a hardship distribution to pay certain expenses
for you, your spouse, your dependent or your primary beneficiary, for example:
However, you should know the following consequences before taking a hardship distribution:
Remember, a 401(k) plan is designed to help you save money for your retirement while you’re
working. So, consider the consequences before dipping into your retirement savings.
For immediate assistance with retirement distributions, or another tax matter, contact us today at 1-949-260-4770 for a FREE and CONFIDENTIAL consultation with our CPAs and former IRS Agents.
We look forward to serving you.