Originally Posted by
itsokimapilot
I believe there’s a stipulation that your 401k loan has to be from the current employer’s 401k program. If you’re no longer working there you have six months to pay it back or pay a penalty.
That's typical from I've seen, and is probably mandated by the federal code.
Originally Posted by
fcoolaiddrinker
Roll what you need into your new employer then do the loan.
Verify that's possible with the new employer. It's legal but the specific plan also has to allow it.
Worst case, like I said, cash out the new 401k and eat the penalty.