Can I cash out my 401(k) account once it's found?
Yes, you can. However, I wouldn't advise it as you'll pay taxes on it (which might push you to a higher bracket), and if you're under 59 1/2 years, you'll pay a 10% penalty on the money. Cashing it out is only a decent option if the balance is under $1,000. But we always recommend rolling it over into an IRA account.