Tag Archives: Solo 401k

Study by EBRI Found IRA Balances Grew 22 Percent Plus from 2013 Through 2017

On September 17, 2020 the Employee Benefit Research Institute (EBRI) released their research findings surrounding the growth in IRA balances from 2013 through 2017. Here are some of the EBRI findings: The average individual retirement account (IRA) balance increased from $93,441 in 2013 to $114,383 in 2017, an increase of 22.4 percent. The average contribution […]

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 […]

How to Transfer an IRA Including a SEP IRA From Merrill Lynch to a Self-Directed Solo 401k Plan

While the Roth IRA rules do not allow for the transfer to a qualified plan including a self-directed solo 401k plan, this same rule does not apply to pretax funds held in a traditional IRA or a SEP IRA. As a result, it is no uncommon to fund a solo 401k plan by transferring / […]

The Government Accountability Officer (GAO) Report GAO-20-541 Finds Room for Improvement for Dividing Retirement Funds Due to Divorce- QDRO

On August 28, 2020 the Government Accountability Office (GAO) announced it had done a study surrounding improving the communication on how retirement funds are divided up in retirement resulting from a divorce and submitted it to the Department of Labor (DOL). The notice number is GAO-20-541 and is titled “DOL Could Better Inform Divorcing Parties […]

IRS Publishes Reminder of Fast Approaching August 31, 2020 Deadline to Rollover or Repay RMD from IRAs and Solo 401k Plans

On August 24 the IRS issued a reminder to IRA owners and employer plan  (e.g., solo 401k plan and full-time employer 401k plans) owners and beneficiaries of the fast approaching  August 31, 2020 deadline to rollover or repay Required Minimum Distribution (RMD) received in 2020 to avoid paying taxes. This RMD relief was provided as […]

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