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Solo 401k FAQ: Do I need to file two Forms 5500-EZ? One for the old and one for the restated plan?
QUESTION:
I am upgrading my existing Solo 401k at Fidelity in order to be able to make Mega Backdoor Roth Contributions and invest in real estate. The value of my Solo 401k is currently greater than $250,000 and I file a Form 5500-EZ every year. As part of the change to your plan, do I need to file two Forms 5500-EZ? One for the old and one for the restated plan?
RESPONSE:
Because your solo 401k plan was restated to our plan from the prior solo 401k provider, you would not file 2 (two) Form 5500-EZ forms. Instead, just one for the restated plan is filed and the change in plan names is referenced on the Form 5500-ez that is filed for the restated plan. The original plan’s effective date will stay the same.
