Minnesota Solo 401k Plan

The first 401k plan was offered as a result of the Employment Retirement Income Act 1974 (ERISA). A Minnesota Solo 401k, just like all 401ks, is approved by the IRS, not the state of Minnesota.

While all 401ks are for those employed to save for retirement, a Solo 401k is for the self-employed with no full time employees. Commonly both spouses participate in the Solo 401k or  business partners and their spouses.

Minnesota Solo 401k Plan Highlights

Partially Shielded from Creditors: Creditor protection for solo 401k plans falls on your state of residence. In the state of Minnesota,  self-directed solo 401k  retirement assets are partially shielded from creditors. Minnesota limits creditor protection for solo 401k plans to $60,000 adjusted for inflation–Minn. Rev. Stat. Ann. Sec. 550.37(24)

Approved by IRS:  Solo 401k are approved by the IRS through the issuance of an IRS Opinion Letter.

Solo 401k Checkbook Control: Since you are the named Trustee of the  Solo 401k plan and the solo 401k plan document allows for investing in both equities (mutual funds and stocks), and alternative investments (real estate, notes, precious metals, tax liens, private business, etc) by writing a check, we will assist you in opening Solo 401k checking account at your local bank or credit union in the State of Minnesota.


Additional Information:

IRS Solo 401k

 Ameritrade Solo 401k

​ Schwab Solo 401k

​ Fidelity Solo 401k

​Solo 401k Checkbook Control

​Solo 401k Real Estate

​Solo 401k Non-recourse Loan

Gold Solo 401k

What is a Solo 401k

Transfer IRA Owned Property to Self-Directed Solo 401k QUESTION:

I’m just following up with you on getting real property (a house) that is currently owned by my personal IRA directly rolled over to my company’s solo 401(k) plan. I’ve been in contact with the Hennepin County, Minnesota property records department & they don’t recognize “The ***** 401(k) Retirement Plan” as an entity as it’s not registered in the State of Minnesota.
Here’s what the Hennepin County Examiner of Titles emailed me:
The ***** 401(k) Retirement Plan is not listed as an entity with the Minnesota Secretary of State.  A conveyance to a non-existent entity is void.  It is possible that the named entity is organized in a state other than Minnesota. Please let me know if that is the case.
Do you know how the IRA owned property should be conveyed to my self-directed solo 401k plan?


Since the self-directed IRA owned property is being transferred in-kind to the self-directed solo 401k plan, once you receive the paper property assignment from the self-directed IRA custodian  which will reflect that the IRA custodian has effectively transferred the property from the IRA to the solo 401k plan, you can take that assignment to the county recorder to have the property recorded in the name of the solo 401k plan, so as follows:
John Do, Trustee of the ABC Trust
See the following page for an example:

SOLO 401(K)