The processing timeline for a loan withdrawal is 15 business days from the date of receipt of a signed promissory note & amortization schedule. Loan withdrawals initiated online have a shorter processing timeline than requests made using PDF/ paper forms. When we receive your loan withdrawal request, we must first obtain Plan Sponsor approval prior to processing your request (please allow 2-3 business days for this transaction.) The promissory note & amortization schedule will be issued 1-2 business days after receiving Plan Sponsor approval for your loan withdrawal.
Your Plan is enabled for online loan withdrawals (i where you may initiate your loan withdrawal from your Participant Portal and avoid having to complete and sign paper or PDF forms and attach supporting documentation. Log on to your Participant account and visit the Loans & Withdrawals page to access the loan withdrawal option for your Plan. If you are unable to initiate your withdrawal request online, visit the Forms section of our website (http://forms.rpgconsultants.com) to download a PDF copy of the appropriate withdrawal form. Again, PDF forms have a longer processing timeline and additional requirements, such as an identity verification phone call, valid photo ID requirements, and supporting documentation.