What type of administrative costs and maintenance is required to maintain a Solo 401(k) Plan?
The solo 401(k) plan is easy to operate. There is generally no annual filing requirement unless your Solo 401(k) Plan exceeds $250,000 in assets, in which case you will need to file a short information return with the IRS (Form 5500-EZ).
Beyond this reporting requirement, basic reporting requirement ought to be maintained. This essentially means to keep all records, receipts, contracts relating to the Solo 401(k) and its investments on file.
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