Reporting the Full Pretax Solo 401k to Pretax Full-Time Employer Transfer to the IRS

Form 1099R

We will report the transfer on Form 1099R. A 1099-R is a required document that must be completed and sent to the IRS for all distributions, including transfers to a full-time employer plan  from a Solo 401k plan. The 1099-R will be issued in February 2022, with a copy sent to you for filing with your taxes. IMPORTANT:  The transfer is not taxable only reportable if the funds are transferred to a qualified employer plan.

Form 5500ez
By July of 2022: Will will issue a final Form 5500ez to formally report the closure of the plan to the IRS.

Annual Fee

Visit the following link to process payment of the solo 401k annual fee which will cover the issuance of both Form 1099-R and Form 5500-EZ to formally close the solo 401k plan with the IRS.

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