Please check out this good question from our Daily Live Zoom call. Subscribe to our YouTube Channel to get notifications of our Daily FAQs.
Solo 401k FAQ: My TD Ameritrade Account for my Solo 401k is switching to Schwab – Will I lose checkbook control?
QUESTION:
I received an email from TD Ameritrade stating that my account will no longer be permitted to use checkbook control after the transition. I’m a little concerned that my account may not be the correct type with TD, as according to your website checkbook control is possible with Schwab. Can you provide any insights?
RESPONSE:
They are not referring to solo 401k plans provided by third-party companies like us so you are not impacted. You will notice that they did not list 401k plans on their list.
Schwab Fees QUESTION
Will Schwab impose any fees?
We are not aware of any fees but you will need to ultimately check with Schwab. Please also see the following: https://www.mysolo401k.net/solo-401k/schwab-solo-401k/
