Solo 401k is the Ultimate Retirement Plan designed specifically for the self-employed and small business owners without any full time employees working for them.
Our process is quick, accurate and IRS-compliant.
Set UpSet up a self directed Solo 401k plan. The plan can be set up the next business day after we receive completed application.
FundingFund your Solo 401k plan with contributions or rollovers from a previous 401k, IRA or almost any other qualified retirement plan.
InvestInvest in assets of your choice as easily as writing a check and bypass extra time and fees often associated with a custodial service.
Why Choose the Solo 401k Plan
Any Sponsoring Business Type
The Self-Directed Solo 401k Plan (often referred to as Individual 401k or Owner-Only 401k) is a Qualified Retirement Plan can be adopted by any business type: corporation, sole proprietor, LLC, partnership, independent contractor, etc.
Limitless Investment Options
Solo 401k Plans allow a small business owner or self-employed individual the capability to use his or her retirement savings to invest in virtually limitless investment opportunities such as real estate, tax liens and tax deeds, businesses, precious metals, and more
Total Checkbook Control
The self-directed Solo 401k allows plan participants to act as the plan trustee and invest freely without going through a custodian.This allows plan participants to utilize his knowledge and skills to diversify retirement portfolio and maximize its growth potential.
High Contribution Limit
Contribution Limits enables clients to maximize tax deductible contributions of up to $59,000 per year, almost ten times higher than the traditional IRA contribution limit.
Loan Option is Allowed
Would you like to have tax-free and penalty-free access to a loan up to $50,000 from your 401k, which can be used for any reason including personal use? Solo 401k Rules allow you to borrow up to $50,000 for any reason.
Invest with Tax Benefits
Plan participants can reduce their taxable income immediately with the tax-deferred contributions and investments. The Roth Solo 401k option is available, allowing after-tax contributions and tax-free earnings on investments.
Maximum Deductible Contribution
Maximum Loan Allowance
Maximum Roth Contribution
The Solo 401k Set-up Service Includes:
- Solo 401k Adoption Agreement
- Solo 401k Basic Plan Document
- PPA Amendment
- Solo 401k Summary Plan Description
- Trust Agreement
- Appointment of Trustee
- Action by Board of Directors
- Beneficiary Designation
- Solo 401k Loan Procedure
- Solo 401k Loan Documentation
- Transfer Request Forms for incoming funds transfers
- Employer Identification Number (EIN) obtained from the IRS for your Solo 401k Trust
- IRS Determination letter stating that this is a Prototype Plan that meets the requirements of a qualified plan