Can I roll over funds from my current employer’s 401k to my Solo 401k?

Self-employed Solo 401k FAQ – Can I roll over funds from my current employer’s 401k to my Solo 401k?

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Solo 401k Rollover FAQ: Can a portion of my funds from my current employer 401k be rolled over to my Solo 401k. Please note that I plan to continue working for this employer.

RESPONSE:

In general, one may not transfer funds out of the current employer 401k until such person separates from service (i.e. such person quits or otherwise stops working for such employer).

While there are certain limited exceptions (e.g. if such person is older than 59.5 years of age or if the funds that the person wishes to transfer out were rolled into the plan from a previous employer plan), ultimately the person will need to check with the plan administrator to determine the specific plan rules that apply.

For our solo 401k clients who are eligible to rollover funds, we handle and guide our clients through the transfer process including leveraging our experience helping 1000s of clients transfer funds from 100s of different financial institutions.

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About George Blower

I have the privilege of educating our clients about our products and services so that they can make informed and confident decisions about their financial future. Prior to joining My Solo 401k Financial, I served as the general counsel for a subsidiary of a Fortune 500 financial services company. Learn more about George Blower and My Solo 401k Financial >>

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