401(k) Plan #610080 Hardship Withdrawal Application - Merrill Lynch: Fill out & sign online

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Can I withdraw money from my Merrill Lynch 401k?

The primary purpose of your Plan account is to provide income for retirement. However, you may withdraw your pre-tax contributions, Roth contributions, matching contributions and the 401(k) Welcome Contribution, if applicable, without penalty if you are at least age 59 or disabled.

How do I get my 401k hardship withdrawal approved?

If your plan does allow hardship withdrawals, make a request that can be approved by a representative or by a committee, who will then take legal responsibility for the 401(k) withdrawal. You may need to supply supporting documentation of your hardship, including legal documents, invoices, and bills.

How to get hardship withdrawal from Merrill Lynch?

To find out how much money you have available for a hardship, please log on to .benefits.ml.com or call 800-228- 4015 to speak to a representative. If you apply for multiple hardship reasons, you will only be approved for the reason(s) for which you submitted appropriate documentation.

Can a 401k hardship withdrawal be denied?

However, if the employer knows you can access another source of funds, it may deny your request. Other times, the employer may verify your hardship and the necessity of the withdrawal through specific documentation, such as: Foreclosure notices. Funeral home invoices.

Can I just withdraw money from my 401k?

You will have to pay taxes that can reduce your distribution. Your withdrawal will be subject to federal and state income tax and, potentially, a 10% additional tax for an early withdrawal if you are under age 59, or under 55 and separated from service.