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Justice4U, Attorney
Category: Legal
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I need to withdrawl money from my 401K to pay bills. I no

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I need to withdrawl money from my 401K to pay bills. I no longer get overtime and wife lost her job. I am behind on bills. Vanuard said my hard ship does not fall in the IRS lines to withdrawl. Believe me when I tell you that I do have a real hard ship right now. Is there anything that can be done for me to make the withdrawl. My e-mail [email protected]

Thank you

Randy Sloan
Submitted: 8 years ago.
Category: Legal
Expert:  Justice4U replied 8 years ago.
The plan administrator has a limited discretion and each plan may differ. The IRS sets general guidelines and the plan administrator uses these guidelines in making these decisions. You will need to speak with management at the administrator and plead your case. You may be able to accomplish your goal with persistence if your situation is arguably within the IRS guidelines for your plan.

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