Can you withdraw money age 595 if you have an outstanding loan on your 401K and still working for employer?

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1270386

2026-04-14 21:50

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Typically, you cannot withdraw money from your 401(k) at age 59½ if you are still employed by the company sponsoring the plan, especially if you have an outstanding loan against it. Most 401(k) plans restrict in-service withdrawals while you are still employed. However, some plans may allow for hardship withdrawals or loans to be repaid, but this varies by plan. It's essential to check your specific plan's rules or consult with your HR department for clarity.

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