MySolo401k Business Financing Plan vs. the Competition

  MySolo401kCompetitor XCompetitor YCompetitor Z
Setup Fee$4000$4995$4995$4695
First Year Annual Maintenance Fee$0 – Waived$1428 ($119/month)$1440 ($120/month)$1164 ($97/month)
First Year Total Fees$4000$6423$6435$5859
Ongoing Annual Maintenance Fees$899/year starting in 2nd year$1428 ($119/month)$1440 ($120/month)$1164 ($97/month)
State Corporation Filing (incl. filing fees)
Obtain corporate federal employer identification number (EIN)
Corporate Records (bylaws, stock certificates, etc.)
Corporate Bank Account Assistance
IRS-approved plan incl. favorable determination letter
Plan identification number
Prepare all forms to open 401k Brokerage Account ?????????
Transfer/Rollover Assistance
Work Directly with Attorney & Compliance Officer (No Sales Rep)????????
Annual Plan Compliance Support (Form 5500, Plan Amendments, etc.)
Routine Annual ValuationIncluded in annual fee?????????
Fidelity Bond PremiumPrepare application at no charge (premium not included)Premium includedPremium not includedPremium not included