"There is no fear in love, but perfect love casts out fear." Who has not heard someone say this means we should all be working to love God more and more until all our obedience is from love and none from fear? And further, that if we fear, we do not really love God the way we ought, "for fear has to do with punishment, and whoever fears has not been perfected in love" (1 Jn 4:18).
However, this view does not pass the test of fitting the rest of the New Testament doctrine on the fear of God. Peter says, "Fear God" (1Pet 2:17). Many interpret fear to merely mean reverence or respect. Jesus himself refutes that with, "And do not fear those who kill the body but cannot kill the soul. Rather fear him who can destroy both soul and body in hell" (Matt10:28). The place that Jesus says is so bad one should tear out his eyeball rather than go there inspires the terror definition of fear. Also, the Hebrew writer declares that it is a fearful thing to fall into the hands of the living God (12:28).
Finally, that interpretation of one phrase does not fit its context. Six verses before, "Beloved, if God so loved us, we also ought to love one another" (1John4:11). Two verses after, "for he who does not love his brother whom he has seen cannot love God whom he has not seen." And the next verse is the famous, "We love because He first loved us." We love who? The context primarily concerns loving our brothers which John makes clear is inextribly bound with loving God as we continue reading through 5:3. Therefore, the fear John expects us to lose "when perfect love casts out fear" is the fear of demonstrating our love to both God and his children, our brethren—even when persecution will result, or ostracism, or...
No one should ever stop fearing God, so that cannot be the point.
Jesus was not ashamed to use fear as a motivator for serving God. Neither was Peter. Some want to wash fear out of the gospel with some smarmy warm feeling definition. The result is that many sit around with a warm fuzzy feeling toward God but do little to repent or to actually serve God in inconvenient ways.
Knowing that "Judgment begins at the house of God….which is the church of the living God, the pillar and ground of the truth" we should, "pass the time of [our] sojourning in fear, If [we] call on him as Father" (1Pet 4:17, 1Tim 3:15, 1 Pet 1:17).
Keith Ward