Solo 401(k) Loan Calculator: Estimate Your Repayment Schedule
A Solo 401(k) Loan Calculator helps self-employed individuals or small business owners estimate how much they can borrow from their Solo 401(k) and determine repayment terms. A 401(k) loan allows participants to borrow up to 50% of their account balance, with a maximum of $50,000.
Simply fill out the fields below, and our tool will provide an approximation tailored to your unique situation. Once complete, you can generate a convenient PDF summary to save or print for your records.
Please note: The calculated amount is an estimate for informational purposes only. For specific advice or details about our Solo 401(k) services, visit our Solo 401(k) plan page.
Legend for the Calculator Fields
- Name
- What to Enter: Your full legal name.
- Tips: Use the name associated with your Solo 401(k) account or the name used on your tax filings for accuracy.
- Loan Amount
- What to Enter: The amount you wish to borrow from your Solo 401(k) plan.
- Tips: The amount you can borrow from your 401(k) is $50,000, or one half of the account balance, whichever is less.
- Term In Years
- What to Enter: Generally,the loan term is up to five years or 60 months.
- Tips: The more you stretch it out, the smaller the payments will be.
- Rate of Return
- What to Enter: The interest rate of the loan. Typically, the Prime Rate plus one percent is used.
- Tips: Increasing the rate will increase your payment which will allow you to contribute more back into your Solo 401(k) plan.
- Frequency
- What to Enter: Choose between quarterly, monthly, or weekly payments.
- Tips: Payments must be made at least quarterly and in substantially equal payments.
Solo 401(k) Loan Calculator FAQ
This tool allows Solo 401(k) plan investors to calculate how much they can borrow from their plan and estimate repayment terms.
If you need to borrow from your 401(k) plan, this tool will help determine how much you payments will be based on the amount borrowed and the repayment terms.
A plan participant may borrow up to $50,000 or 1/2 of the plan balance, whichever is less. For example, if your balance is $60,000, you may borrow up to $30,000.
If you fail to make timely repayments, the outstanding loan balance may be considered a taxable distribution, subject to income taxes and penalties.
Yes! Once you’ve filled out the form, a PDF of your results will be generated. You can save or print this document.
Yes, we respect user privacy. The information you enter is not saved or shared and is used only to generate the PDF.
Our Solo 401(k) Plan page has more info on plan benefits, setup and management.
