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    TPUNCH's Avatar
    TPUNCH Posts: 1, Reputation: 1
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    #1

    Feb 18, 2009, 12:51 PM
    401k cash-out
    A fellow employee was told by company's 401K company (fidelity)

    That he could not cash out his 401k period. Unless he had a hardship under their

    Under their guidelines , can they do that? I want to cash mine out, totally.

    I understand the taxes & penalties.

    Can they refuse me?

    Tim
    ebaines's Avatar
    ebaines Posts: 12,131, Reputation: 1307
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    #2

    Feb 18, 2009, 01:05 PM

    Yes they can refuse you, if your plan does not allow withdrawals by active employees (except under the hardship rules as specified by the IRS).
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