Regulations

A Self-Directed Solo 401k is Revocable

January 27, 2016 | By Mark Nolan

QUESTION:

Could you please confirm that the Solo 401K is a “living, revocable trust”?

ANSWER:

A Solo 401k is a revocable trust, meaning it can be updated and often is for changes in the law (e.g., contribution limits, who can participate, distribution rules, types of contributions, allowed investments, etc.). It is not a “living” trust. Further, self-directed solo 401k trusts are not registered with the state and are considered retirement trusts under the internal revenue code.

About Mark Nolan

Each day I speak with energetic entrepreneurs looking to take the plunge into a new venture and small business owners eager to take control of their retirement savings. I am passionate about helping others find their financial independence. Having worked for over 20 years with some of the top retirement account custodian and insurance companies I have a deep and extensive knowledge of the complexities of self-directed 401ks and IRAs as well as retirement plan regulations. Learn more about Mark Nolan and My Solo 401k Financial >>

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