Solo 401k Contributions FAQ – Can I use my personal account for Roth Solo 401k contributions?
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Solo 401k Contributions FAQ:
Can I use my personal bank account to make Roth Solo 401k contributions?
RESPONSE:
Great question as one of the top reasons that clients open accounts with us is the ability to make Roth and Mega Backdoor Roth Solo 401k contributions.
When making different types of Solo 401k contributions, one needs to deposit such contributions into separate sub-accounts (e.g. separate accounts for pre-tax, Roth, and/or voluntary after-tax accounts) with each account opened under the name and EIN of the solo 401k.
Please note that as part of our onboarding process, we obtain the EIN for the Solo 401k and prepare the paperwork to open accounts for the Solo 401k at the bank or brokerage of choice.
