loan repayments must be quarterly

[Rai401k]

I don't think this is correct but someone told us that it is possible to have loan repayments less frequently than quarterly.

This comes back to a loan problem we had where the participants amortization schedule was set up annually for a home loan.

Is there any difference for a home loan from a 401k, the period can be longer than 5 years because it is a home loan but the repayment must be quarterly correct?

[rcline46]

Go back to that someone and have them provide a cite for their statement. Since they are the 'expert' they should have it. If they cannot provide it, then politely tell them not to opine on hearsay evidence. (so speaketh this old curmudgeon)

[Lou S.]

Ask them what part of 72(p)(2)© is unclear

Requirement of level amortization. Except as provided in regulations,

this paragraph shall not apply to any loan unless substantially level

amortization of such loan (with payments not less frequently than

quarterly) is required over the term of the loan.

[BG5150]

^ninja'd by Lou

Nothing I can see in 72(p) that says you can go longer than quarterly.