Author Archives: Mark Nolan

Investing the Self-Directed Solo 401k Fidelity Investments Non-Prototype Investment Only Brokerage Account In Certificates of Deposit (CDs)

A self-directed solo 401k from My Solo 401k Financial may be invested in certificates of deposit (CDs) through a brokerage account at Fidelity Investments. The type of brokerage account that clients’ of My Solo 401k Financial open at Fidelity Investments for their solo 401k is referred to as a Non-Prototype Investment Only account. This means […]

Items to Consider if You Plan to Process a Self-Directed Roth Solo 401k Pretax In-Plan Conversion in 2023

While you have until December 31, 2023 to convert pretax solo 401k funds including assets (e.g., Real estate, private investments/syndicates, promissory notes as well as equities) so that the conversion is effective for 2023, make sure to start planning now as certain preparation applies. If you have not yet done so, you first need to […]

In-Kind Conversion of Solo 401k Private Equity Investment (private placement / Syndicate) to the Roth Solo 401k

In addition to converting pretax funds held in a pretax solo 401k to the Roth solo 401k, private equity/private placement/Syndicate/private shares held in a pretax solo 401k may also be converted to the Roth solo 401k. Here are the typical steps that apply to an in-kind, in-plan conversion of a Private Equity Investment (private placement […]

Can my ROBS 401k (business financing 401k) Funded Business Pay me as 1099-NEC Instead of W-2?

In short, no. The purpose of the business financing 401k (aka ROBS 401k) is to finance a C-corporation using your retirement funds that you will operate as a w-2 employee. As a result, any compensation that you receive for the work performed for your ROBS 401k funded corporation needs to be paid as w-2 wages. […]

Receiving Disability Benefits – Can I open a self-directed solo 401k?

I retired early from a government job through a disability retirement.  The plan allows me to work part-time as long as I don’t exceed a certain limit.  My question is:  Can I open a solo 401-K when I am receiving retirement income?  I will be 60 years old next month. ANSWER: Good question and the answer […]

Part-time / Seasonal Income Solo 401k QUESTION:

I work a part-time job. Do I have to have a business to open a solo401k? ANSWER: If you are self-employed (i.e. you are reporting active self-employment income on your taxes earned from your personal effort such as income reported on schedule C and not income reported on schedule E) with no full-time W-2 employees working […]

Minimum Dollar Amount Solo 401k Eligibility QUESTION:

What is the minimum dollar amount for 1099 income that I have to show on my tax return to qualify to have a Solo 401K?  Is there a specific number?   ANSWER: IRS Publication 560 (–pdf/p560.pdf) which covers self-employed plans including solo 401(k) plans, simply states that you need to be performing part-time self-employment activity-it […]

If take out a HELOC can I invest those funds in the 401k (aka ROBS 401k) funded corporation?

If the 401k participants takes a home equity loan, she can use the proceeds of the loan to invest in the ROBS 401k funded business. This investment would count as part of the individua’s personal stock investment in the Corporation so shares of stock would be issued to the individual. What is more, the company […]

Does the ROBS 401k (aka Business Financing 401k) allow for 60 day distributions?

First, you must meet a triggering event in order to take a distribution from a 401k including a ROBS 401k. Distribution triggering events include retirement age (usually age 59 1/2) and no longer working for the employer that sponsors the 401k. Regarding taking a distribution from a 401k plan and then paying back within 60 […]

Promissory Note Invesment Using Fidelity Brokerage Account for my Self-Directed Solo 401k QUESTION

QUESTION: Do I have to talk to Fidelity Investments to initiate the solo 401k promissory note? Or is that something you help with. ANSWER: Fidelity Investments Role: The only role Fidelity  or the bank/credit union where the self-directed solo 401k funds are held perform for your solo 401k is to serve as the custodian of […]


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