CLOSING PLAN: Full ROTH Solo 401k DISTRIBUTION Form

  • To help you report the FULL ROTH solo 401k distribution complete this on-line distribution form.
  • If each solo 401k participant holds funds in the Roth solo 401k and will take a full Roth solo 401k distribution, each needs to fill out the on-line distribution form listed below.

IMPORTANT: You first need to confirm you qualify to take a FULL ROTH solo 401k distribution  by reading the following.

  • If you are over age 59 1/2, you can distribute any amounts.
  • If you are not over age 59 1/2, you can generally only distribute any amounts that were transferred/rolled over to the solo 401k from other full-time employer retirement plans and/or IRAs.
  • If you are no longer self-employed or are shutting the plan down because your business has decided to longer sponsor a solo 401k plan. The IRS may also later inquire as to why you closed the plan down.
  • These are IRS statutory regulations.

20% of Mandatory Federal Taxes May Apply to Your ROTH Solo 401k FULL Distribution

The IRS requires that you pay 20% of federal taxes on the gains accumulated in the Roth solo 401k if you are under age 59 1/2 and have not had the Roth solo 401k for at least 5 years.  This tax payment must be submitted electronically by YOU to the Department of the Treasury by 15th of the month following your Solo 401k distribution dateCLICK HERE to learn how to pay this required federal tax.

Accessing the FULL DISTRIBUTON of ROTH Solo 401k Funds

Once you complete the below distribution formVISIT HERE for how to deposit the funds from the Roth solo 401k account to your personal bank account.

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