Tag Archives: Solo 401k Loan

Top Reasons to Upgrade Your TD Ameritrade Solo 401k to a Self-Directed Solo 401k

Please check out our webinar as we discuss the top reasons why clients transfer or switch change their “free” solo 401k at TD Ameritrade to a self-directed Solo 401k with us including The process The costs The ongoing compliance support that we provide. Change TD Ameritrade to Self-directed Solo 401k Reasons to Switch Loans Mega […]

Former Employer Plan Participant Loan Offset vs Deemed Distribution

While work retirement plans (e.g., 401k, 403b, and 457b) are not required to allow for participant loans, the majority of them now do. Many solo 401k plans and ROBS 401k plans get funded with former employer plan funds which may contain outstanding participant loans. Often times, the individual is not aware the outstanding participant loan […]

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

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 […]

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

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 […]

Solo 401k Loan | Roth 401k Loan Rules

QUESTION – ROTH 401K LOAN RULES I am an independent financial adviser with an Individual Solo 401k.  I have approximately $80,000 in pre-tax funds and $60,000 of Roth funds in my Solo 401k.  I would like to take a loan from my Solo 401k to expand my business and payoff some personal credit cards.  How much […]