Our customers have their solo 401(k) accounts at hundreds of different banks, credit unions, etc. as well as brokerage firms such as Fidelity and Schwab just to name a couple.
If you want a brokerage account, we will prepare all the forms that the brokerage firm needs to open a free account (i.e. there are no account opening or maintenance fees and the brokerage firm only charges trading and wire transfer fees) and many firms (including Fidelity and Schwab) offer a free checkbook feature.
If you want a bank account, we will prepare a packet (including banking guide, certificate of trust, EIN letter, etc.) that you can use to open an account at the bank of your choice. We will also be available to speak with your banker if he or she has any questions.
Information Regarding Investing a Solo 401k Plan in Real Estate: You can use debt in conjunction with your solo 401(k) funds to purchase real estate provided that the debt is non-recourse financing. For more information please see the following link:
- Non–recourse financing: Find
lenders that specialize in non–recourse loans to solo 401k plans: CLICK HERE
- Real Estate Investment Procedure: Click Here
- Real Estate FAQs: Click Here
- Invest in Real Estate: Click Here
- Full Setup Assistance: As part of our services, we would guide you through the process to set up an account for your Solo 401k. You can have a bank or brokerage account for your solo 401(k), or even both (and we would help you set up the accounts as part of our services). For example, if you wish to have an account at a brokerage like Fidelity or Schwab, we would prepare all of the paperwork that Fidelity or Schwab needs to set up a free account for the Solo 401k (i.e. no set up or maintenance fees) that comes with a free checkbook and through which you can invest in traditional investments (e.g., stocks, mutual funds, bonds, etc.) as well as alternative investments such as real estate, promissory notes, etc. since they are allowed under our IRS-approved plan documents. Please see more at the following links:
- Our Fair Fee Structure: Our Solo 401k fee structure is
100% flat. Our initial fee is $550which covers everything to establish the plan (for both of you), including account set up, transfer of existing retirement funds as well as the first 12 months of ongoing compliance support. Starting 12 months later, we charge a flat annual fee of $125. Please see more the following link: