Archive for the ‘Solo 401K Rollover’ Category

What Exactly is a Solo 401(k) Plan?

May 27th, 2014

401k plans are defined in the Internal Revenue Code (Section 401) as retirement savings trusts. A 401(k) Plan is an IRS approved qualified retirement plan. As the name implies, the Solo 401(k) plan is an IRS approved qualified 401(k) plan designed for a self-employed individual or the sole owner-employee of a corporation. It works best […]

May 1st, 2014

The IRS approved solo 401(k) Plan has been used by hundreds of thousands of small businesses for over 30 years. However, the scope of options available to Solo 401(k) Plan participants is determined based on the plan documents. To this end, most financial institutions that offer Solo 401(k) Plan restrict the Plan participant to invest […]

April 9th, 2014

An individual who adopts a Solo 401(k) Plan may generally fund the Solo 401(k) Plan using two methods – the rollover process or by direct contribution. Most Solo 401(k) Plan documents will allow for the rollover of IRA or other pre-tax employer retirement funds, such as a 401(k), 403(b), or 457(b). The IRA holder or […]

March 20th, 2014

A Solo 401K Plan also called an Individual 401K Plan offers a self-employed business owner the ability to use their retirement funds to make almost any type of investment tax-free, including real estate on their own without requiring custodian consent. As long as a business exists with no full-time employees other than the owner and […]

January 8th, 2014

In most cases, one is able to roll almost anytime of retirement account to a Solo 401(k) Plan. The only exception is a Roth IRA, which is not eligible to be rolled into a Solo 401(k) Plan. Hence, one can roll a Traditional IRA, 401(k) Plan, 403(b), 457(b), and a defined benefit plan tax-free and […]

December 24th, 2013

IRS Notice 2013-74 offers guidance to solo 401(k) Plan owners on deadlines for adopting in-plan Roth rollover amendment The IRS on December 12, 2013 issued guidance in IRS Notice 2013-74 to qualified retirement plans, including the solo 401(k) plan, on in-plan rollovers to designated Roth Solo 401K accounts. The guidance in IRS Notice 2013-4 relates […]

December 9th, 2013

Self-Directed Solo 401(k) plan will accept tax-free SEP IRA rollovers IRA Financial Group, the leading provider of solo 401k plans announces the introduction of its special SEP IRA rollover self-directed solo 401(k) plan for the self-employed and small business owner. The special self-directed solo 401(k) Plan will be geared towards self-employed individuals looking to rollover […]

October 15th, 2013

In general, a rollover of retirement funds, such as an IRA or 401(k) Plan, to a Solo 401k plan is a tax-free distribution to the taxpayer from one retirement account (traditional IRA or employer’s pension plan) that rolls over into a similar retirement account within 60 days. Form 1099-R will be issued to the taxpayer […]