Solo 401k providers with loan provision

While common solo 401k providers such as Fidelity, Charles Schwab, TD Ameritrade or E-Trade—to name few—do not offer the solo 401k loan provision or Individual 401k loan provision, when you open a solo 401k through a self-directed solo 401k provider such us MySolo401k, you will gain option to the solo 401k loan provision because Mysolo401k’s solo 401k plan documents allow for solo 401k loans including multiple solo 401k loans. What’s more, you will still have option to use any of the previously mentioned brokerage firm providers (Fidelity, TD Ameritrade, or Charles Schwab) for holding your solo 401k funds as well as for processing the solo 401k loan and making the solo 401k loan payments. Alternatively, you can use your local bank instead of a brokerage account for holding the solo 401k funds as well as for processing the solo 401k loan funds. This arrangement is possible because MySolo401k is the solo 401k plan document provider containing specific participant loan provisions and will also prepare the IRS compliant solo 401k loan documents.

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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