Please check out this good question from our Daily Live Zoom call. Subscribe to our YouTube Channel to get notifications of our Daily FAQs.
Self-employed 401k – Do I need to pay back my Solo 401k loan before making contributions?
Great question as the ability to take a Solo 401k loan is one of the top reasons that clients set up accounts with us.
No the ability to contribute to the plan is not contingent on whether a participant loan is outstanding nor whether it’s being back, etc.
These are independent features of the Solo 401k plan.
