One option if you are no longer self-employed, or if you no longer qualify for a solo 401k plan because your business has grown resulting in hiring a full-time or multiple full-time W-2 employees, is to invest the solo 401k funds in a single member LLC where the solo 401k is the sole member of the LLC.
Invest the solo 401k in an LLC
The solo 401k will get invested in an LLC (a.k.a. solo 401k LLC), with the existing solo 401k funds and assets deposited into the solo 401k LLC.
Transfer the solo 401k LLC in-kind to a Self-Directed IRA
Once the solo 401k LLC is set up and the existing funds and assets in the solo 401k plan have been deposited into it, we will help you to close down the solo 401k plan including transferring the solo 401k owned LLC in-kind to a self-directed IRA.
Our LLC services also cover the following services.
- Registration of LLC (note that our $800 fee does not cover the LLC registration fee charged by the secretary of state)
- Obtaining EIN for the LLC
- Preparing the Solo 401k LLC Operating Agreement
- Update of LLC operating agreement to list the self-directed IRA as the member
To get started, please provide the following:
To form LLC and Prepare LLC Operating Agreement, we require the following information from you:
LLC Business Name (please provide 3 names in case name is already taken):
The name must contain the words limited company or limited liability company or the abbreviation L.C., LC, L.L.C. or LLC.
- LLC Name Preference 1:
- LLC Name Preference 2:
- LLC Name Preference 3:
LLC Manager’s Address (generally your home address):
- Physical Address (cannot be a PO Box):
- LLC Manager’s name (your name):
- Registered Agent name (this is usually you):
- Registered Agent’s phone number:
- Registered agent’s address:
