Solo 401k Loan FAQ – How is interest rate determined for solo 401k loan?
How do I take a solo 401k loan from a brokerage account (Fidelity, Schwab, TD Ameritrade)?
Self-Employed Individual 401k Loan FAQ – Can I pre-pay my Solo 401k loan?
Self-Employed Solo 401k Question Answered – Do I make solo 401k loan payments to myself?
Harvard Law Attorney George Blower reviews the options for TD Ameritrade Individual 401k account holders in response to TD Ameritrade’s decision to no longer support solo 401k participant loans for its individual 401k plans.
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 […]
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 […]
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 […]
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 […]
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 […]