Menu Close

Blog

IRA Financial App Offers Fully Digital Solo 401(k) Plan Platform

new app features for solo 401(k) clients

We are pleased to announce that we have updated our IRA Financial app. Through our partnership with Capital One Bank, the new updates in version 2.2 will simplify how Solo 401(k) clients invest in alternative assets, such as real estate, with their retirement plan. Plan participants will be able to fund their plan bank account and establish the account in an easier and more efficient manner.

Version 2.2 of the mobile app will include a complete overhaul of the original features. The enhanced module will allow app users to establish their Solo 401(k) plan and sign documents through E-sign 100 percent digitally and within a single session.

The new app features include:

  • Ability to customize the plan based on app users’ business and investment goals.
  • Ability to fund the plan through contributions or rollovers directly through the app via our partnership with Capital One.
  • Checkbook control over your retirement funds when you serve as the trustee of the plan.
  • Payment of one flat fee and no valuation fee.
  • No minimum balance requirement.

The Solo 401(k) Retirement Plan

The Solo 401(k) plan, also known as the one-participant plan and self-directed 401(k), is an IRS approved qualified retirement plan. The Solo 401(k) is an ideal retirement solution for self-employed individuals and business owners with no full-time employees.

The Solo 401(k) was specifically designed for sole proprietors, small business owners and independent contractors, such as consultants. With features like the $50,000 tax-free and penalty-free loan, exemption from UDFI tax when using a nonrecourse loan to purchase real estate, and its high annual contribution limits, the Solo 401(k) is more advantageous than establishing a Traditional 401(k) or SEP IRA for self-employed individuals.

This unique retirement plan has the same advantages as a Self-directed IRA but without the need for individuals to hire a special custodian or establish an LLC. Any business type can adopt the plan, including:

  • Sole proprietorships
  • Corporations
  • Limited Liability Companies (LLCs)
  • Partnerships

Solo 401(k) with IRA Financial

By establishing a Solo 401(k) plan with IRA Financial, you will become the trustee of the retirement plan. As a trustee, you will have the freedom to make investments on your own without custodian consent. Essentially, this will provide you with “checkbook control” to make traditional investments such as:

  • Stocks
  • Bonds
  • Mutual Funds
  • ETFs

Much like the Self-directed IRA, you can also make alternative investments, including:

  • Real estate
  • Private Placements
  • Precious metals
  • Cryptocurrency

All investments will grow tax-free in your Solo 401(k) plan until you take a qualified distribution.

IRA Financial App – Version 2.2

Over the years, we have helped over 6,500 small business owners take control of their retirement future by offering a customized retirement plan for alternative asset investments, such as real estate, without custodian consent.

With the new app features for our Solo 401(k) clients, we plan to help thousands more utilize the Solo 401(k) each year. Our app will allow investors to save for retirement and better diversify their retirement funds as easily as it takes to write a check.

Share the knowledge

Related Articles