Self-directed Solo 401k FAQ-Can I pay my Solo 401k setup fees with my retirement funds?

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Self-directed Solo 401k Question: Can I pay the fees to set up a Solo 401k with my retirement funds? Can I reimburse myself for paying the setup fees? 

The cost to set up a Solo 401k can’t be paid with retirement funds either directly or indirectly (e.g. no reimbursement).

This is per the rules around paying the cost to set up a plan which means that solo 401k setup fees cannot be paid either directly (i.e. the Solo 401k owner can’t simply transfer money from his or her retirement account to pay the fees) or indirectly, such as by reimbursing yourself after the fact.

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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 >>

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