Solo 401k account statement
We are applying for a new mortgage and the lender would like to see a quarterly statement for our retirement accounts. I spent some time yesterday and prepared a "snapshot" by generating a report from Quickbooks (I use this software to track my Solo 401k balances and transactions) but they would not accept that. The underwriters for the loan are wanting to see a statement like they are used to. I am not a financial guru and not certain what a "typical statement" would include in their minds. Do you have anything prepared that I could plug my numbers into?
Answer:
Yes, we have a template that you can use:
Solo 401k statement SAMPLE.xlsx
Please note the following instructions to properly complete the statement:
- Download the file and save it on your hard drive.
- Open the file and edit the cells that are highlighted in yellow. Do not edit any other cells since the sheet includes formulas.
- Insert your plan information. Refer to your Adoption Agreement document and copy any required information from there.
- Account number: for the first portion, use the plan number (usually 001). The second portion of the number should be the last 4 digits of your Social Security Number.
- After you finish editing, double-check for accuracy.
- Remove the yellow highlights and save the file.
- Save the file in PDF format. You can then provide the PDF file to the person requesting the statement. Do not send it in Excel format. There are free software versions on the web which would allow you to convert to PDF. If for some reason you are unable to save it as a PDF, you can print the file and then scan it or send it via fax.