Skip to main content
February 13, 2024
Solved

Do I need to report a loan taken against my 401k plan, since I am repaying it bi-weekly?

  • February 13, 2024
  • 1 reply
  • 0 views
No text available
Best answer by dmertz

No.  The loan only becomes reportable if you default or you leave the company and the loan becomes satisfied with an offset distribution.  In either case you'll receive a From 1099-R to include on your tax return.

1 reply

dmertzAnswer
Employee
February 13, 2024

No.  The loan only becomes reportable if you default or you leave the company and the loan becomes satisfied with an offset distribution.  In either case you'll receive a From 1099-R to include on your tax return.