Author Archives: Mark Nolan

The 2021-2022 IRS Priority Guidance Plan

On September 9, 2021 the Department of the Treasury released their annual Priority Guidance Plan. The 2021–2022 Priority Guidance Plan contains 193 guidance projects that are priorities for allocating Treasury Department and Service resources during the 12-month period from July 1, 2021 through June 30, 2022 (the plan year). The projects on the plan will […]

Inherited Solo 401k Funds May Not be Protected in Bankruptcy

It may come down the Employee Retirement Income Security Act (ERISA) as to whether or not funds inherited from a solo 401k plan are protected from bankruptcy creditors. A recent court case Dockins, No. 20-10119 (Bankr. W.D.N.C. June 4, 20221) involving a Wells Fargo Bank company 401k plan for Kirk Morishita the  U.S. Bankruptcy Court […]

Passive Solo 401k Investment In Private Company and Work for the Company

BACKGROUND & QUESTION: A client wants to invest in a private startup using solo 401k funds. My question is about her consulting or working with this company. What are the limitations she should be aware of?  If she invests solo 401k dollars into the company’s equity, can she not take a job with them? Can […]

Trading Options in Your Charles Schwab Self-Directed Solo 401k Brokerage Account (AKA Company Retirement Account Master Account)

While Charles Schwab also offers their onw solo 401k plan which tends to me more restrictive, a self-directed solo 401k plan from My Solo 401k Financial may be invested in equities including stock options using a Charles Schwab company retirement account brokerage account.  This is possible because you opened a solo 401k with My Solo […]

How to Guide-Mega Back Door Roth Solo 401k Conversion of Fidelity Non-Prototype Solo 401k Brokerage Account to Roth IRA at Vanguard

My Solo 401k Financial clients also have the option to convert their voluntary after-tax solo 401k funds held in a non-prototype brokerage account at Fidelity Investments to their Vanguard Roth IRA. The following video and procedure detail the following: How to open a mega backdoor Roth solo 401k with My Solo 401k Financial; How open […]

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