See Special Enrollment Exam Quiz
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SEE PART 2: BUSINESSES
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A participant, age 45, borrows $40,000 from his employer's 401(k) plan in 2025; the plan permits the loan and the loan satisfies the requirements of § 72(p). He separates from service before repaying the loan, and the plan treats the unpaid balance as a deemed distribution in 2026.
Which statement is correct regarding the unpaid loan balance?
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