Tag Archives: loan

Consequences of Having Multiple Solo 401k Plans for Your Self-Employed Business

While having multiple solo 401k plans for your owner-only self-employed business including those where you have a controlling ownership is technically not disallowed, it is not only unconventional but a good way to invite an unnecessary IRS plan audit. Reasons why having multiple solo 401k plan increases the likelihood of an IRS plan audit: Reason […]

Self-directed Solo 401k Daily FAQ – Can I hold my Solo 401k crypto in my personal crypto wallet?

Self-directed Solo 401k QUESTION: Can I hold my Solo 401k bitcoin in the same wallet that I hold the cryptocurrency that I own personally?

Self-directed Solo 401k Daily Question – Can I take a loan against crypto in my solo 401k?

Self-directed Solo 401k Daily Question – Can I take a loan against crypto in my solo 401k?

Schwab TD Ameritrade Merger Impact on Existing TD Ameritrade Individual 401k/Solo 401k Account Holders

While over the years many advisors have converted their clients existing self-employed individual 401k/solo 401k from TD Ameritrade to a self-directed solo 401k with our firm, so far this year we have seen a large spike in the number of advisers inquiring and/or using My Solo 401k Financial to restate their clients existing individual 401k/solo […]

Court Case: Prohibited to Personally Guarantee a Loan to Your Solo 401k or IRA

A court case (James E. Thiessen et ux. v. Commissioner; 146 T.C. No. 7; No. 11965-10) from March of 2016 serves to remind us that it is prohibited for the solo 401k owner to personally guarantee a loan to his solo 401k or IRA. In this court case the IRA owners (Mr. and Mrs. Thiessen) […]

Solo 401k Common Distribution Triggers

Solo 401k providers and solo 401k owners often don’t understand that the same distribution rules that apply to full-time employer plans (i.e., those plans with full-time employees besides the business owner(s)) also apply to solo 401k plans. However, that is simply not correct.  Some solo 401k owners will ask the solo 401k provider to assist […]

Good Solo 401k Loan Payment Questions

In prepping for making solo 401k participant loan payments, I have a few questions. QUESTIONS: 1. I used a deposit slip that came with the solo 401k non-prototype account brokerage account checkbook. Is there a specific Fidelity form or some other deposit slip required? ( I am nowhere near a Fidelity branch) 2. Do solo […]

Bad Credit Business Funding Option – Use Your 401k to Start a Business

Are you an aspiring entrepreneur with bad credit? In that case you know well that financing a business with bad credit is no easy task. Even for a small business owner with good credit, access to financing from traditional sources such as banks, credit unions can be challenging.  According to the Harvard Business School “The […]


  • Popular Video

  • ROBS 401k Funding Process

  • Solo 401k Contributions Including Mega

  • Checkbook IRA LLC

  • 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


    8:00 am - 4:00 pm PT

    Why us?