Tag Archives: solo 401k contribution deadline

IRS Extends Contribution Deadline to May 17, 2021 for Self-Directed Solo 401k Year 2020 Contributions for Sole Proprietors and Independent Contractors

On March 17, 2021, the IRS announced the extension of the deadline for individuals to file their year 2020 federal income tax return.  The original due date was April 15, 2021. With the IRS automatic extension, the deadline is now May 17, 2021.  This extension to file later positively impacts solo 401k contributions for sole proprietors and […]

The Solo 401k December 31, 2020 Set up/Adoption Deadline

While the 2019 SECURE Act extended the deadline to adopt a Solo 401k plan from the end of the year to the business tax return deadline including any timely filed extension, the IRS has not yet updated its prior guidelines stating that employee contributions must be elected by the end of the year. Therefore until […]