E*TRADE Solo 401k Restatement Review – How to Change to a Self-directed Solo 401k

E*Trade Solo 401k Review

Please check out our webinar as we discuss the top reasons why clients transfer or switch their solo 401k at E*TRADE to a self-directed Solo 401k with us including

  • The process
  • The costs
  • The ongoing compliance support that we provide.

Restatement –
E*TRADE to Self-directed Solo 401k

  • Reasons to Switch
    • 100% FLAT FEE self-directed plan including Mega Backdoor Roth and All Allowable Alternative Investments
    • Open Account at 100s of banks, brokerages, cryptocurrency and alternative investments platform
    • Expert Compliance Support (5500-ez, 1099-R, expert compliance team, etc.) for no additional charge
  • How to Switch

E*TRADE to Self-directed Solo 401k

How to Change Plan Providers:
E*TRADE to Self-directed Solo 401k


  • New Solo 401k Plan Documents (vs. E*TRADE “Do it yourself/DIY” plan documents)
    • List the original plan effective date
    • Obtain 401K EIN
  • Close Existing Account and Open New Account(s)
    • Pre-Tax, Roth and Voluntary After-Tax
    • Spouses
  • E*TRADE QRP Distribution Request & Letter of Acceptance
  • Not Required: No Final 5500-EZ or 1099-r

Additional Considerations:

  • If assets exceed $250K:
    • Have you been filing Form 5500-EZ?
    • If not, need to file under the IRS Correction Program
  • Do you wish to keep investments (in-kind transfer)?
    • Confirm that new brokerage account provider offers those funds
  • Are there multiple participants (e.g. spouses)?
    • Segregate the funds and transfer into separate sub-accounts
  • Consider filing an extension to ensure plenty of time to make contributions

Self-directed Solo 401k –
Compliance Support

  • Form 5500-ez
    • If your solo 401k plan balance exceeded $250,000 as of December 31, a Form 5500-EZ is due to the IRS by July 31. 
  • 1099-R
    • Distributions, Rollover, In-Plan Conversions
  • Solo 401k IRS Required Plan Updates
    • IRS-required plan updates with the next required update occurring in 2020 or 2021 once the IRS approves the industry wide update
  • Contribution Calculation (including Mega Backdoor Roth)
  • Loan Document Preparation
  • Alternative Investments
  • Account Setup
    • Bank, Brokerage, Crypto exchange, etc.

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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 >>