Solo or Individual K plans are simply standard 401k plans which only have business owners and/or immediate family members or partners as participants. To operate as a solo k you must not have non-related employees who might meet the eligibility requirements of your plan.

Solo 401k plans are allowed to operate with simpler testing rules and filing requirements to the IRS. Our solo 401k plans allow you to invest your funds anywhere you wish, with any advisor or any type of investment account. In addition you may have multiple accounts established with different vendors such as brokerage houses, banks or financial advisors. You are in complete control of your funds.

We can also structure solo 401K with checkbook control.

Rolling in Retirement Plans Account or IRA’s into Solo 401K

You may roll any other retirement plan accounts or IRA’s into your solo 401K accounts. The due date of the contribution is the same as the due date of your business tax return. You are not required to make any contributions for any given year, but you may make contributions between one dollar and the IRS imposed maximum for each year.

Our retirement plan documents are self-trusteed and allow you to invest in non-traditional investments such as real estate, gold bullion or small company stock. They also allow you to take loans from your accounts up to the IRS imposed maximum of $50,000 per participant. We supply all of the forms you will need to keep your plan in compliance with IRS rules.

Maintaining Your Plan

Our services include writing and maintaining the plan document, compliance support for things like guiding you through the process of investing in non-traditional assets, setting up a loan, IRS/DOL reporting or just answering your questions. There are less expensive providers, but they almost always want to control some of your plans assets. We focus only on assisting you to operate your plan and keeping you in compliance with IRS rules, leaving investment decisions entirely up to you.

Our ongoing support fee is almost entirely devoted to keeping your document current. Without this support it is unlikely your plan document will be current within 12 months after its creation and will almost certainly be out of compliance with in 24 months after creation. It is no longer possible to “just purchase a document” and operate on your own from that point on. Your document must be maintained if it is to remain a valid document.