Plan Documents: IRS Approved Solo 401k Plan Establishment Documents

EIN for Solo 401k Plan: Obtainment of Employer Identification Number (EIN) for Solo 401k Plan

Bank Account: Bank Account Setup at Bank of Your Choosing with Checkbook & Wire Control

Free Brokerage Account: Free Brokerage Account with Checkbook at Fidelity Investments, Charles Schwab, E-TRADE or TD Ameritrade which allows for voluntary after-tax contributions (a.k.a. mega backdoor), solo 401k participant loans, investing in real estate, notes, tax liens, private investments, as well as stocks and mutual funds.

Transfer Forms: Preparation of Transfer Forms for transferring your former employer retirement plan and IRAs to the solo 401k plan.

Guide for Choosing a Solo 401k Provider

• Click Here to view our guide for choosing a solo 401k provider.

MySolo401k Financial vs. the Competition

• Click Here to view chart.

Solo 401k Compliance & Audit Guarantee:

• It is important to work with a solo 401k provider that will stand behind their solo 401k plan and service. Click Here to view our solo 401k audit guarantee.

Monthly Client Only Webinars:

• Monthly client-only webinars on hot compliance topics led by our Senior Compliance team.  Subscribe  HERE to receive invitations.

The annual fee covers IRS required plan document updates. As the IRS Approved solo 401k plan provider, only the solo provider can process the IRS required plan updates.  

Our Annual Fee Also Covers the Following Ongoing Support.

• IRS Required Plan Updates.
• Education regarding investment rules (e.g., investing in real estate, precious metals, private companies, tax liens, cryptocurrency, promissory notes, etc.)

• Participant Solo 401(k)  Loan origination

• IRS Form 5500-EZ preparation  When your account balance reaches $250,000. Note: It is  the responsibility of the client to let us know once the account reaches $250K so that we can assist with this tax filing because we don’t have access to your funds.

• For all annual distributions, preparation of Form 1099-R. Note: It is the responsibility of the client to let us know when they process distributions so that we can assist with this tax filing because we don’t have access to your funds.  
• 1099-R reporting for In-Plan Conversions to Roth Solo 401k and Conversion of after-tax funds to Roth IRA. Note: It is the responsibility of the client to let us know when they process conversions so that we can assist with this tax filing because we don’t have access to your funds.

• QDRO distribution reporting.

• Assistance and forms for transferring IRAs or other 401ks to your new Solo 401k

• Investment Forms for Your Records Only

• Maintaining qualified plan documents

• Amendments as required to keep up with tax law changes

• Assistance in setting-up checking account for your Solo 401k

• Assistance in transferring IRAs or other 401ks into your new solo 401k

• interpretation of plan provisions

Having been in business since 2009 with over 10,000 clients, an A+ rating from the Better Business Bureau, with 0 (zero) customer complaints, our track record is tremendous. It is important to take a long-term view in choosing a Solo 401k provider with superior expertise and service as you will be setting up of 401(k) plan for your business which needs to be kept in compliance.

Self-employed individuals want to devote their time to running a successful business—not running a solo 401k retirement plan. Based on our experience we field questions every day (even on Saturdays) from our existing clients ranging from helping them determine how much they can contribute to the plan to how to invest their solo 401(k) funds in real estate or other alternative investments in accordance with the solo 401(k) rules. There is no minimum balance and there is no additional charge for the support.