Solo 401k and personal taxes
Can you provide guidance on what I’m required to do on the tax/CPA side of things? What should I submit to my accountant for the plan? IMPORTANT: Note that we are not qualified to provide tax, legal or investment advice. This information is intended as general guidance only. You should always consult with an experienced tax professional […]
CARES Act F.A.Q.
We understand that the uncertainty and disruption caused by COVID-19 have led to a lot of questions including many related to retirement plan administration. While the situation has been changing on an almost hourly basis, we wanted to distribute answers to the questions we are seeing often based on the information we have at this […]
The CARES Act and the Solo 401k
The Coronavirus Aid, Relief, and Economic Security (CARES) Act was enacted on March 27, 2020 to provide short-term financial relief to those who have experienced adverse financial consequences from the current pandemic. The CARES Act includes expanded provisions for Coronavirus-related distributions and participant loans. Solo 401k owners can utilize these expanded provisions under the CARES […]
COVID-19 Update
We hope that you and your family are safe and healthy during this challenging time. Like you, we are monitoring the daily developments around the spread of the COVID-19 virus. While we have not experienced any issues to date, we are taking the appropriate steps to be fully prepared if that changes. Our team have the […]
Brokerage account for Solo 401k
I’d like to set up a brokerage account in the name of my Solo 401k Trust to trade options and buy some stocks. Are there any clauses or designations in the application process I need to look out for while setting up my accounts? Can I fund the brokerage account with a check from my Solo […]
Filling out a W-9 for the Solo 401k
The bank sent me a Form W9 to fill out for my Solo 401k trust. How do I fill it out? 1 – Fill in the name of your Solo 401k trust* 2 – Leave blank 3 – Check Other and fill in 401k Retirement Trust 4 – Enter code 1 for “Exempt payee code” […]
Affiliate program
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Are contributions required every year for my Solo 401k?
Am I required to make annual contributions to my Solo 401k plan? No, contributions are not required every year. However, note that substantial and recurring contributions can indicate that the plan was established as a permanent program, which is the design of a retirement plan. If the plan appears to be established as a temporary […]
Matching contributions for a Solo 401k
Does my Solo 401k have matching contributions? No. Your Solo 401k does not have matching contributions. Instead, it has employer/profit sharing contributions. Your Solo 401k is designed to be as flexible as possible. Because matching contributions can limit the amount contributed as employer, your plan offers employer/profit sharing contributions instead, allowing for the greatest flexibility […]
Update credit card: Solo 401k annual fee
Question: The credit card you have on file for my Solo 401k annual fee is no longer valid. I now have a new card. How do I update the card you have on file? Answer: You can update the card using following secured link: