401(k) Hardship Withdrawal: Rules, Taxes & Alternatives
When and how to access your 401(k) for financial emergencies
A hardship withdrawal is a last-resort way to access your 401(k) before retirement. You must prove immediate, heavy financial need and exhaust other resources first. Unlike loans, hardship withdrawals cannot be repaid.
IRS Qualifying Reasons
- Medical expenses for you, spouse, or dependents
- Purchase of primary residence
- Tuition and educational expenses
- Prevention of eviction or foreclosure
- Funeral and burial expenses
- Home repair from casualty loss