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Solo 401k FAQ: When is the deadline to open a Solo 401k for 2022 and make 2022 401k contributions?
RESPONSE:
The deadline to set up a plan for 2022 is the end of the year (i.e. December 31, 2022).
Please note that this doesn’t mean necessarily opening the accounts – instead, all that is required is that the Solo 401k establishment documents are signed by the end of the year. Please note that we make it easy to make the deadline because we prepare the documents within the same day or 24 business hours of signing up for our Solo 401k plan.
Once the plan is established (i.e. the document are signed), this will preserve the right to make all types of Solo 401k contributions (i.e. employee, employer and/or voluntary after-tax) anytime up until the business tax return deadline (including any timely-filed extension) for the self-employed business.
