john hancock 401k withdrawal how long


Payments will arrive in your financial institution account within 3–5 business days.
  • How long does it take to get money out of your 401k?

    The IRS allows penalty-free withdrawals from retirement accounts after age 59½ and requires withdrawals after age 72. (These are called required minimum distributions, or RMDs).
  • Unless you're age 59½ or older, this is not an advisable option. If you are age 59 ½ or younger you will be charged a 10% early withdrawal penalty fee, plus regardless of your age, you will have to pay income taxes on the full amount withdrawn.
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