Confirm your plan’s withdrawal options (hardship, in-service, age-based, termination/retirement, loans)
Check your eligibility based on age, employment status, and reason for withdrawal
Contact your 401(k) plan administrator or log in to your plan portal
Request the withdrawal form or online withdrawal workflow
Choose the withdrawal type:
Full or partial distribution
Rollover to IRA/another eligible retirement plan or direct cash payout
Hardship withdrawal (if permitted by the plan)
Complete required paperwork (identity verification, distribution election, withholding election)
Review taxes and withholding settings (federal and state withholding, if applicable)
Submit the request before any deadlines and confirm the payment method (check or direct deposit)
Wait for processing and confirm the distribution date
If doing a rollover, complete rollover within required timeframes and ensure correct handling (direct rollover preferred)
Receive and retain distribution documents (e.g., Form 1099-R)
File any required tax forms and report the distribution as directed by your tax situation