Tag Archives: participant loan

Sole Proprietor Plans (Solo 401k Plan, SEP IRA and SIMPLE IRA)

The simplest business to form is a sole proprietorship—an unincorporated business entity owned by one person. A sole proprietorship is not registered with the state like an LLC or Corporation, for example. Therefore, the various self-employed plans as generally sponsored in the individual’s name. While sole proprietorships can have employees, many entities are owner-only businesses. […]

Solo 401k Loan Interest Rate Increase Prime Rate Plus One

The cost of borrowing form your solo 401k plan just increased from 4.50% to 4.75%. In several communications, the IRS has consistently stated that a fair interest rate payment on a 401k participant loan is the prime rate plus one point.  The new prime rate of 3.75% went into effect this week.  It was previously […]

Solo 401k Participant Loan Facts: Borrowing from My Solo 401k

Once the solo 401k has been funded, there is no waiting period for processing a solo 401k participant loan. You, as trustee/participant can take a loan/borrow from Solo 401k for any reason. Following are some quick facts regarding the solo 401k participant loan rules. Each participant can borrow from the solo 4o1k provided each has […]

  • 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-Saturday

    7:00 am - 5:00 pm PT

    Why us?
MENU