Take note of this easing for 401(k) plan borrowers. The new tax legislation gives employees who borrow from their 401(k) plans more time to repay the loans if they lose their jobs or the plan is terminated. Under prior law, employees who left their jobs were usually required to repay the loan balance within 60 days in order to avoid having the outstanding amount treated as a taxable distribution. Now these account owners have until the due date of their federal tax return for the year they terminated employment to repay their 401(k) borrowings.