Your Must First Qualify

While yes these are your retirement funds, you must first meet certain IRS rules in order to gain access to your retirement funds including self-directed Roth solo 401k funds.

Unless you are age 59 1/2 or older, which affords you the option to transfer funds out of the Roth solo 401k to a Roth IRA, the IRS rules require that you meet a triggering event before you can gain access to your solo 401k funds including Roth Solo 401k funds for transfer/rollover purposes to a Roth IRA. CLICK HERE to see if you qualify.

If You Qualify You Can Use this Procedure

If you meet a triggering event as described above, and you use Fidelity Investments to hold your self-directed Roth solo 401k funds and now want to process a partial transfer of your Roth solo 401k funds to a Roth l IRA also held Fidelity Investments, then the following procedure applies when moving the Roth solo 401k funds to the Roth IRA.

First Open The Roth IRA at Fidelity Investments

If you don’t already have a Roth IRA at Fidelity Investments, make sure to first open one with them which can usually be done on-line.

Second Move the Funds from the Roth Solo 401k to the Roth IRA

To direct Fidelity Investments to move the funds from the Roth solo 401k to the Fidelity Investments Roth IRA, complete Fidelity’s form titled “One-Time Withdrawal-Investment-Only (Non-Prototype) Retirement Account” which you can download by Clicking Here. You can move the funds electronically to the new Roth IRA using this Fidelity Investments form which you will need to complete and submit to Fidelity.

Third Complete our Online Form Directive For Form 1099-R Reporting Purposes

Ater you move the funds from the pre Roth solo 401k to the Roth IRA, make sure to complete the following online forms so that we collect the necessary information to issue the Form 1099-Rs to the IRS to report the partial non-taxable direct rollover to the Roth IRA. Click here for our on-line Form 1099-R form issuance form request. 

Process a Partial Transfer of Pre Tax Solo 401k Funds to a Traditional IRA

If you also qualify for the transfer of pre tax Solo 401k funds to a Traditional IRA, make sure to also open a separate Traditional IRA at Fidelity Investments if you don’t already have one as the pre tax solo 401k funds would need to be transferred to the Traditional IRA. Then, click here to follow the procedure for processing a partial transfer from your pre tax solo 401k Fidelity Investments brokerage account to your Traditional IRA at Fidelity Investments.