Self-Directed Solo 401k Eligibility Checklist

While a solo 401k is not a new type of 401k plan but rater a 401k for the self-employed, confusion often arises regrading qualifying to open a solo 401k plan. A solo 401k is for owner-only businesses with not full-time W-2 employees. For a example, a business where both spouses work for the business that does not employ full-time W-2 employees can adopt a solo 401k plan and both spouses can participate in the plan. Please see the following checklist for more on the solo 401k eligibility requirements.

SOLO 401(K)