In general, you can withdraw the funds from your 401(k) account, but there may be significant tax consequences and penalties for doing so.
If you are still employed by the company that sponsors your 401k, you may not be eligible to withdraw the funds without penalty until you reach age 59 1/2, or until you experience a qualifying event such as a hardship withdrawal or separation from service Can I Cancel My 401k and Get My Money.
If you are no longer employed by the company, you may be able to withdraw the funds without penalty, but you will still be subject to income taxes on the amount you withdraw.
It's important to understand the potential tax and penalty implications of withdrawing funds from your 401(k) account before making any decisions. It may be helpful to consult with a financial advisor or tax professional to understand the full range of options available to you.
Read also: http://www.reconcilebooks.com/can-i-cancel-my-401k-and-get-my-money/ »
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