401(k) Plan Loan Truth in Lending Act Disclosure Statement | Practical Law

401(k) Plan Loan Truth in Lending Act Disclosure Statement | Practical Law

A Truth in Lending Act disclosure statement for a 401(k) plan loan. Although the 2009 amendments to the Truth in Lending Act (TILA) no longer require employer-sponsored retirement plans to provide participants with a TILA disclosure statement, the statement provides participants with the important details of their loans and may be included in a loan package. It should be used in conjunction with a 401(k) Plan Loan Promissory Note and a 401(k) Plan Loan Policy. This Standard Document has integrated notes with important explanations and drafting tips.

401(k) Plan Loan Truth in Lending Act Disclosure Statement

Practical Law Standard Document 7-572-1665 (Approx. 8 pages)

401(k) Plan Loan Truth in Lending Act Disclosure Statement

by Practical Law Employee Benefits & Executive Compensation
MaintainedUSA (National/Federal)
A Truth in Lending Act disclosure statement for a 401(k) plan loan. Although the 2009 amendments to the Truth in Lending Act (TILA) no longer require employer-sponsored retirement plans to provide participants with a TILA disclosure statement, the statement provides participants with the important details of their loans and may be included in a loan package. It should be used in conjunction with a 401(k) Plan Loan Promissory Note and a 401(k) Plan Loan Policy. This Standard Document has integrated notes with important explanations and drafting tips.