Marjorie Lucas

Your conclusion is correct. You referenced: Vested balance = $25,000 Existing loan = $25,000 50% vested balance limit 50% * $25,000 = $12,500 Maximum total loan amount allowed across all loans $12,500 - $25,000 = ($12,500) ($12,500) is less than 0. Not eligible for any additional loans. All loans cannot exceed the Maximum statutory limit, which is the lesser of 50% of the vested account balance or $50,000

Yes, a participant can generally take multiple 401(k) loans if allowed by the plan; however, care should be taken to ensure that all loans combined do not exceed IRS limits.

You can find forms, instructions, and publications by going to the IRS website at IRS.gov/FormsPubs or IRS.gov/OrderForms. Please keep in mind that it is not for all filers. For plan years beginning after 2013, must file electronically using the FIRE system. Hope, this helps!