I've searched the internets extensively but I am finding it surprisingly difficult to find a straightforward answer to a very simple question.
Assuming I leave the company, can I just withdraw all the money in my 401k account, including the company's match, minus the 10% penalty & taxes? Or do I need a valid "hardship" reason and/or wait until I'm 59 1/2?
As long as you're willing to pay the taxes and the penalties, once you're no longer employed you're allowed to do whatever you want. You can always do an "direct roll-over" (See IRC Sec. 401(a)(31)(A) which mandates this) and then withdraw from another qualified account, thus creating a withdrawal, if they refuse to just mail you a check (Why would they care? Don't know).
The match may have some vesting restrictions, though. Your own contributions - are yours to do with whatever you feel like.
That said, just pointing out the obvious - it's a very bad idea. Unless you expect to die before you're 60 and don't want to leave a dime to your heirs, you would probably be better off leaving it in a tax-sheltered account. If the custodian is bad - just roll over elsewhere, there's tons of excellent IRA providers.
Most plans yes, but it depends on your specific plan's provisions.
You want to get a Summary Plan Description for your specific plan. Speak with HR (assuming you have one, or whoever is in charge at your company) and request a Summary Plan Description (they are legally required to provide you with one if you ask, although there may be a small cost to you for printing). It will tell you in there when distributions may be made following severance of employment as it pertains to your specific plan.
An excerpt from the doc submitted to the IRS for plan approval -
option g would be the choice that's available, and participant should watch out for.
This is the response (a small excerpt, the full doc ran 2 pages and had private information) -
It confirms the full document (the plan itself) was approved.
