Tag Archives: Solo 401k 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 […]

Securing Personal Loan Using Solo 401k Funds Vs Non-Recourse Loan to Solo 401k

QUESTIONS: I have a solo 401k trust and want to know about leveraging my solo 401k funds for  equity lines of credit; and reverse mortgages. Do yo also have recommendations for banks who are familiar with these type of transactions should he proceed with any of the above transactions through one of the options referenced […]

Compare SEP IRA vs. Solo 401k – Advantages of a Solo 401k

We often hear from small business owners who are comparing a SEP IRA vs. Solo 401k.  For those who qualify for the Solo 401k, they will almost always find that a Solo 401k has certain features that make it the better option.  This post highlights several key advantages of a Solo 401k vs. SEP IRA. […]

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