1. Your Name:
2. Your Phone Number:
3. Email Address:
4. Are you self-employed or own a business where there are no full-time employees
other than the owners?
5. Please indicate the name of the Adopting Employer (i.e. the name of the business that will be adopting the solo 401(k) Plan or in the case of a Sole Proprietorship the Individual's name):
6. Type of Entity - please check the appropriate box:
OTHER (please list)
7. Please provide the Tax ID# of the entity adopting the Solo 401(k) Plan or the Social Security # of the
Individual adopting the Plan as a Sole Proprietorship:
8. Please provide the address of Adopting Employer (must be a physical address - cannot use a PO Box):
Address Line 1
Address Line 2
9. Please indicate the name of Individual(s) that will be serving as Trustee of the Solo 401(k) Plan (typically the participant (you) and/or a spouse will serve as Trustee(s) of the Plan). The Trustee is responsible for making all investment decisions on behalf of the Solo 401(k) Plan.
10. Please indicate the name of Individual that will be serving as Plan Administrator of the Solo 401(k) Plan (typically the Plan participant (you) will serve as Plan Administrator of the Solo 401(k) Plan). The Plan Administrator is responsible for making sure the Solo 401(k) Plan remains in full IRS compliance, which is why it is so important to work with the tax professionals at the IRA Financial Group.
11. Please indicate the interest rate to be charged on the Solo 401(k) loan, if applicable. The lowest interest rate allowable under IRS rules is Prime as per the Wall Street Journal, which as of 1/1/17 is 3.75%.
Please note that the retirement tax professional that is drafting your Solo 401(k) Plan documents will include all the available benefits allowable under the law, including employee deferrals, profit sharing contributions, Roth contributions, Roth rollover, Checkbook Control to make real estate and other investments tax-free, ability to purchase life insurance, and the ability to borrow 50% of your account value or $50,000 whichever ever is less.
Once the retirement tax professional has drafted your customized Solo 401(k) Plan documents the retirement tax professional will send you the plan documents electronically. At your convenience, the retirement tax professional will then go through the documents with you. The retirement tax professional will also assist you with opening your 401(k) bank account, rollover your retirement funds to the new plan account tax-free, as well as complete the loan, if necessary.