Solo 401k

Can I change my mind and treat my Roth solo 401k contribution as a Roth Solo 401k contribution?

November 27, 2023 | By Mark Nolan

 While the Roth IRA owner has until October 15 of the year following the year for which the contribution was made to change her mind (aka recharacterize) the contribution as being made to a Traditional IRA, this same rule does apply to Roth solo 401k designated contributions. Roth 401k including Roth solo 401k contributions cannot later be changed to pre tax solo 401k contributions, and vice versa.  

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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