Is there a limit to how much I can rollover or how many rollovers I can do per year from other retirement accounts into the Solo 401k? If I want to rollover more funds later can I do that?
There is no limit to how much can be rolled over from another retirement account into the Solo 401k. The Solo 401k also does not have a limit for the number of direct rollovers into the plan.
Can I rollover my Roth IRA into a Roth component of my Solo 401k?
Answer:
It is generally understood that everything can be rolled over from one type of account to another type of account freely, with the one exception of a ROTH IRA. ROTH IRA funds can only be rolled into another ROTH IRA. If you need to roll over a ROTH IRA, it will have to be into another ROTH IRA.
While the Solo 401k has a ROTH component to it, the IRS does not allow funds from a ROTH IRA to be rolled over into the ROTH Solo 401k. The ROTH component allows you to make contributions to that ROTH component, rollover funds from another ROTH 401k, or convert your pre-tax portion of the Solo 401k into ROTH.
Can I rollover an existing Roth with another investment to a self-directed Solo 401k?
Answer:
If you’re talking about Roth IRA assets, the answer is no.
Roth IRA assets can only go from a Roth IRA account to a Roth IRA account.
If you’re talking about Roth 401k account assets from another Roth 401k, that’s what’s called a designated Roth account inside of a 401k. Designated Roth account assets inside of 401ks can be moved to another designated Roth account inside of another 401k which you have that ability with your Solo 401k.
Can a tax deferred annuity be rolled over into a Solo 401k?
Answer:
Although annuity is a tax-deferred vehicle, it is NOT considered a Qualified Retirement Account. However, if the annuity is held within a retirement plan it can be rolled over.