401K withdrawals are taxable as ordinary income and if you don't meet certain rules an additional 10% penalty tax will be added. If you have not reached at least age 59 ½ then you will owe the 10% penalty tax unless:
You die and the account is paid to your beneficiary (not the easiest way of doing it) You become disabled You terminate employment and are at least 55 years old You withdraw an amount less than is allowable as a medical expense deduction Your withdrawal is related to a qualified domestic relations order (QDRO)
However, think twice before pulling money out because in addition to penalties and taxes, you lose all the potential future investment growth of that retirement plan money.
If you would like a little be more personalized advice, please elaborate on your scenario: Why you need the money, Age, ect.
Hi there thanks for reaching out. You need to contact the human resources department of your former employer or the investment provider of the 401(k) plan. Do you still receive statements or know how to contacts these entities?