Question: For example, if I have a bank account in the name of the 401k, can I write a check to a friend’s business instead of transferring money to him?

Writing a check is transferring money. So if you’re talking about when you do a transaction how do you transfer the money, do you have to do it with a check or do you have to do it with a wire, or something like that? No, there’s no restrictions of that sort.

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