Tag Archives: COVID-19

Regulations

Consolidated Appropriations Act (CAA), 2021 Does Not Extend COVID-19 Solo 401k Distributions or Solo 401k Participant Loan Payments

December 31, 2020 | By Mark Nolan

The Consolidated Appropriations Act, 2021 (CAA) bill was passed on December 21, 2020 and signed into law by the President on December 27, 2020.  While the bill provides limited additional coronavirus (COVID-19) pandemic relief and some disaster relief, the bill did not extend the December 30, 2020 deadline to take the $100,000 maximum distribution from […]

Regulations

IRS Publishes Reminder of Fast Approaching August 31, 2020 Deadline to Rollover or Repay RMD from IRAs and Solo 401k Plans

August 26, 2020 | By Mark Nolan

On August 24 the IRS issued a reminder to IRA owners and employer plan  (e.g., solo 401k plan and full-time employer 401k plans) owners and beneficiaries of the fast approaching  August 31, 2020 deadline to rollover or repay Required Minimum Distribution (RMD) received in 2020 to avoid paying taxes. This RMD relief was provided as […]

News
Regulations

On July 29, 2020 the IRS issued a reminder that the Coronavirus Aid, Relief, and Economic Security (CARES) Act can help eligible taxpayers access funds from retirement plans and IRAs

August 2, 2020 | By Mark Nolan

The IRS issued a reminder on July 29, 2020 that retirement account (e.g., solo 401k plans) and IRA account holders affected by COVID-19 may be able to access their retirement funds under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, provided they meet one of COVID-19 requirements (see below). The Deadline As the law […]

Regulations

IRS Issues Notice 2020-50 New Guidance on CARES Act (COVID-19) Distributions from 401k Plans (solo 401k) and IRAs

June 22, 2020 | By Mark Nolan

The Internal Revenue Service (IRS) issued Notice 2020-50 on Friday, June 19, 2020. This notice is certainly welcomed by  those in the retirement account industry as it provides guidance on making distributions and taking participant loans under the CARES Act While the The IRS will continue to release more guidance on this important act, here […]

  • Open an account

  •  

  • About MySolo401k

    We help our clients take control of their retirement money. Our products and services provide our clients the freedom to invest their retirement savings in their own business as well as alternative investments such as real estate, private companies, promissory notes, precious metals, tax liens and equities.
    Learn more

    Connect with us

  • We’re here to help.

    Call: 800-489-7571

    Monday-Friday

    8:00 am - 4:00 pm PT

    Why us?
MENU