If your company is moving their 401(k) to Guideline, in many cases you will be able to transfer your existing 401(k) loan to us. We can accept one loan per participant as long as the loan is in good standing and your prior provider allows it to be transferred as part of a plan conversion. If you have multiple loans, we will consolidate these balances under one Guideline loan.
We will ask your employer about outstanding loans at the beginning of the plan conversion process and let them know if we anticipate any difficulty in accepting your loan.
You should verify that your payments are up to date and that your current provider is reflecting all payments that you have made. If you are behind on payments, please work with your current loan provider to get caught up as soon as possible.