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Posted

If a participant wants to take a loan in February, is there a specified amount of time when the loan repayments must begin? The participant wants to start repayments in June and the loan procedures are silent on this.

Thanks

Posted

72(p)(2)© says a plan loan must be repaid (amortized) with level payments of principal and interest, made no less frequently than quarterly, over the term of the loan.

JanetM CPA, MBA

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