Your plan may even require you to repay the loan in full if you leave your job. If your 401(k) plan or 403(b) plan has made loans that haven't complied with plan terms about loans, find out how you can correct this mistake.To make a prohibited loan acceptable, every requirement must be satisfied. That's where things get complicated. A 401(k) loan can help cover a large expense, but it has longterm risks to your retirement savings. Taking out a 401(k) loan isn't an ideal situation, but if you're forced to do so, can you pay it off early? If you have a loan offset in 2018 due to termination of employment the following should apply. The text below if from the IRS 402(f) Notice. Find out with our retirement income tax calculator. Calculate how to pay off debt.