I was terminated from my job of 8 years and liquidated my 401k plan. Does this qualify as "Distribution for eligible emergency expenses?

[MindyB]

Yes.  The IRS defines “emergency personal expense" as an unforeseeable or immediate financial need relating to necessary personal or family emergency expenses. (Section 115 of the Secure 2.0 Act)

An emergency will allow you to make a withdrawal, still subject to tax, but without the 10% early withdrawal penalty. ‌You can take one financial withdrawal emergency per year, not to exceed $1,000.

[dmertz · Accepted solution]

Simply being terminated from employment is not by itself an emergency situation.  You only have an emergency situation if the termination creates a substantial financial need for the funds.