How Does Borrowing From Your 401K Work? 
This is pretty simple actually . Borrowing from your 401 -LRB- k -RRB- involves filling out a form indicating how much you would like to borrow . If the money is available , they you will get a check in that amount . Because this is a loan , payments would most likely be set up taken from your current paycheck if you are working . There is interest you will pay back as well however you are paying yourself back . If you withdraw the funds , you may have a tax liability to pay for , fyi . 