I have a client that wants to roll $230k, his 401k, into an IRA, problem is
He has a 10k loan on it with no way to repay it now that he will be leaving in 30 days.
Couple of questions, what happens if he cant pay back the loan?
Can that hold back the rollng over of his account?
What other implications should he be concerned about?
He has a 10k loan on it with no way to repay it now that he will be leaving in 30 days.
Couple of questions, what happens if he cant pay back the loan?
Can that hold back the rollng over of his account?
What other implications should he be concerned about?