Is my Solo 401k plan covered under ERISA?
No, the Solo 401k is not covered by ERISA.
- Your Solo 401k is a qualified plan
- Department of Labor (DOL) Regulations 2510.3-3(c) state that Title I of ERISA does not cover plans for partners or a sole proprietor, such as a Solo 401k
While the Solo 401k is not technically covered under Title I of ERISA, the ERISA rules are still considered as a reference because the Solo 401k is a qualified plan.