Individual 401K loan
Client has an outstanding loan with his individual 401K. Can he roll to another provider, and if so are any issues of concern? Thanks.
Client has an outstanding loan with his individual 401K. Can he roll to another provider, and if so are any issues of concern? Thanks.
Permalink Submitted by Alan Spross on Thu, 2009-09-10 20:19
It might be a challenge to find a new provider that will accept the loan transfer, given the regulatory requirements relating to loan repayments and max balances. It would be wise to only consider a provider with experience in accepting a transferred loan along with the plan.