The Solo 401k Establishment Process

1: Plan

We compose a customized (IRS approved) Solo 401K Plan (also called Self-Directed 401k) for you.

2: Trust

The Plan that we compose contains a Trust, which appoints you as the Trustee of your Solo 401K – allowing you to make all investment choices.

3: Checking account

You establish a checking account (in the name of the Trust) at any bank of your choosing. This checking account will be used for placing all investments or loans for your Solo 401k (we assist you through this process, but never have access to your account or funds). Alternatively, we can assist you establish a brokerage account with checkbook control  and solo 401k loan feature at Fidelity, Schwab or TD Ameritrade.

4: Funding/ Rollover

You will fund your Solo 401K by making an initial tax-deductible contribution or by transferring funds from one or more of your existing retirement accounts or IRA into the new checking account. After you Open Solo 401k, we can facilitate the movement of funds to your new account at no extra cost.

5: Investing

You can begin investing your retirement funds directly into alternative (and traditional) investments – by simply writing a check.

Note: A Solo 401k is commonly referred to as a Single K or Solo K Plan.

 

My solo 401k at a glance

Trustee

Our Solo 401k Plan designates you as the Trustee of your account, permitting you to make all investment decisions.

Investment options

As Trustee of your Solo 401k, our plan grants you complete freedom to invest in all traditional and alternative investment types. This affords you the option to invest your account when you want.  

Checking account

As the Trustee of your Solo 401k, you will open a checking account for your plan at any bank of your choosing. You will then be able to place investments by simply writing a check.

Personal loans

Our Solo 401k allows you to take multiple, nontaxable personal loans up to $50,000 from your plan. 

Company assets

Our Solo 401k allows you to contribute certain company assets into your Plan.

Free investment facilitation

Optional: We will review and facilitate your alternative investment purchases at no additional cost.

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