I have a single owner S-Corporation with its own EIN. Do I need another EIN for a Self-Directed Solo 401k?

I have a single owner S-Corporation with its own EIN. Do I need another EIN for a Self-Directed Solo 401k?

While you can use the S-Corporation EIN for the Self-Directed Solo 401k, I recommend establishing separate one specific for the Solo 401k, which only takes a few minutes to establish via the IRS website for free, to avoid confusion in reporting with the IRS. The EIN for the Solo 401k will be a tax-deferred EIN whereas the one for the S-Corporation is not.

About Mark Nolan

Each day I speak with energetic entrepreneurs looking to take the plunge into a new venture and small business owners eager to take control of their retirement savings. I am passionate about helping others find their financial independence. Having worked for over 20 years with some of the top retirement account custodian and insurance companies I have a deep and extensive knowledge of the complexities of self-directed 401ks and IRAs as well as retirement plan regulations. Learn more about Mark Nolan and My Solo 401k Financial >>

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