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Question

looking to "recharacterize" it to 401k loan so that I won't pay the penalties... is this possible?

Submitted: 593 days and 7 hours ago.
Category: Finance
Value: $9
Status: CLOSED
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Optional Information

Optional Information:
raleigh, North Carolina

Accepted Answer

If the funds were already withdrawn as a 401(k) hardship distribution then it is too late to recharacterize it as a loan. If you took the distribution in 2007 then you should have received a 1099-R in the last couple of months.

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Expert: Bill
Pos. Feedback: 100.0 %
Accepts: 
Answered: 4/9/2008

Financial Advisor

EA, QPA, CHFC, CEBS, CLU - 29 years experience providing financial advice

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