Author Archives: Mark Nolan

SEC In Process of Investigating 457 and 403b Plans

Unlike a 401k plan such as a solo 401k plan for the self-employed with not full-time W-2 employees where the trustee is viewed as the shareholder, the SEC sees the 403b participant as the shareholder.  According to  a Wall Stree Journal article, the SEC agency is seeking details on how administrators—which often serve crucial roles in […]

8/15/2019 Memo IRS Reviews Employer Contribution Deduction Rules

In memorandum 201935011 the IRS provides general legal advice on the determination of whether a contribution by an employer to the employer’s qualified retirement plan (note that a solo 401k plan falls under the qualified plan umbrella and allows for employer contributions) has actually been paid to the plan’s trust such that the contribution is deductible […]

Types of Defined Contribution Plans

Often called DC plans, DC stands for “defined contribution” plan. The Most Popular Types of Defined Contributions Plans The most popular DC plans allow for both employee and employer contributions.  The most popular types of DC plans are 401k plans (note that a solo 401k falls under the defined contribution type too but it is […]

Take-Up Rate at 77 Percent in 2019

The Bureau of Labor Statistics released a report this September stating 77 percent of private industry workers who had access to employer-provided retirement benefits chose to participate in those benefits. This measure is known as the take-up rate. Retirement benefits include defined benefit and defined contribution plans, with solo 401k pans falling under the defined […]

States File Lawsuit Against SEC Best Interest Rule

The SEC Best Interest Rule which is scheduled to take effect on June 30, 2020 is under challenge by seven states (New York, California, Connecticut, Delaware, Maine, New Mexico and Oregon) and the District of Columbia.  On September 9, 2018, these states filed a lawsuit in the U.S. District Court for the Southern District of […]

How to Later Convert ROBS 401k Funded C-Corporation to S-Corporation

QUESTION: If it’s possible, how would I later convert the C CORP to an S CORP? What are the implications for me, the business, and other issues? ANSWER: You asked whether you can convert the C-corporation in which you have invested your retirement funds(Business Financing 401k / ROBS ) into an LLC/S–corporation. i) As long as […]

Maxing Out My Solo 401k in Addition to Fortune 500 Company 401k Plan

The 401(k) regulations allow for contributions to multiple 401(k) plans. This is especially advantageous for those who have a full-time job and participate in that employer’s 401(k), and those who also have a self-employed business and participate in that self-employed business solo 401(k). A solo 401(k) is made up of employee and employer contributions. The employee […]

Self-Directed Solo 401k Roth Solo 401k Recharacterization Question

QUESTION: I am thinking about doing an in plan Roth 401k conversion of the remaining funds in the pre-tax part of my solo 401k plan (around $300K). I am with my tax advisor now and we are questioning if this could be recharacterized (undone) later in 2019 when my tax situation becomes clearer. ANSWER: That is a […]

Co-invest with my 401k in a newly formed LLC

QUESTION: My intent is to co-invest with my 401k in newly formed LLC, to be capitalized 24% by 401k and 76% by me. This is to enable funding of land and the design and build of building for purposes of lease to third parties and income generation. Can you explain any particular requirements for such […]

Rollovers as Business Start-Ups (ROBS) is not a Participant 401k Loan

When you take advantage of a ROBS transaction to rollover your 401k or other retirement funds to start a new business (or finance an existing business), it is not the same as taking a loan/borrowing from your 401k funds. Instead, you are investing your retirement savings in your own business by directing the 401k to by employer […]

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