Depositing the Solo 401k Funds to Your Personal Bank Account

Moving the funds from the solo 401k bank/brokerage account to your personal bank account:

  • By Check: Make the check payable in your name and deposit the funds directly into your personal bank account. In the memo section of the check, write “Distribution.”
  • Electronically: You may also have the bank or brokerage firm process the funds from the solo 401k electronically such as by wire to your personal bank account.

In-kind Distribution of Real Estate Held in the Solo 401k

If an alternative investment such as real estate is being distributed from the solo 401k (in-kind distribution) to your own name, make sure to first get the property valued /appraised to ensure the correct amount of taxes are paid on the distribution, and you will need to have the property assigned/deeded from the solo 401k to your own name. If real estate, You will need to contact the county recorder to have this done.

SOLO 401(K)