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Employers can require proof from the employee of the amount of financial hardship. For example, if you are using a hardship withdrawal to pay your medical bills, your employer may require that you provide those medical bills. To use a hardship withdrawal, you must not have the funds elsewhere to cover the expense.
Depending on who administers your 401(k) account, it can take between three and 10 business days to receive a check after cashing out your 401(k).
In all instances, when looking to take money out of a 401(k), youll need to contact either your plan provider and administrator or your employers human resources department. But the way in which youll cash out your savings depends on your particular employer and the manner via which you elect to withdraw your funds.
Yes, you can withdraw money from your 401(k) before age 59. However, early withdrawals often come with hefty penalties and tax consequences. If you find yourself needing to tap into your retirement funds early, here are rules to be aware of and options to consider.
Generally, anyone can make an early withdrawal from 401(k) plans at any time and for any reason. However, these distributions typically count as taxable income. If youre under the age of 59, you typically have to pay a 10% penalty on the amount withdrawn.

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In order to be eligible to take a hardship withdrawal, you must first demonstrate that your circumstances meet your plans definition of a hardship. You must then demonstrate that your immediate and heavy financial need cannot be relieved by other sources.
If you have no better alternatives and decide to proceed, youll need to get in touch with your companys human resources department. Theyll give you some paperwork to fill out and then ask you to provide some documentation. Once thats done, you should eventually receive a check with the requested funds.