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Hello everyone. I had a question about a 401K hardship w/d. I recently withdrew about $20,000 from my 401k to purchase the home i've been renting. The deal ended up falling throught after I had already recieved the cash. In other words, the money will not be used for the intended purpose of the loan. I can certainly use this cash in other ways and i'm really not that upset about the mortgage deal falling through. My question is, can I get in trouble of any kind for not using the money for the intended purpose? Do I need to report this to anyone? Thanks for any advice.
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