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With the IRA Financial App, never step foot in a bank! You can open a self-directed retirement account at Capital One Bank or any other major financial institution from the comfort of your couch.

Solo 401(k)

For self-employed individuals.

A Solo 401(k) is a traditional 401(k) plan that covers only one employee. In general, to be eligible to establish this plan, one must be self-employed or have a small business with no full-time* employees other than a spouse or other owner(s).

One of the primary reasons the Solo 401(k) plan is so popular with the self-employed is because it includes all the attractive options of a conventional 401(k) qualified retirement plan, but without the costly administrative requirements.

When determining what type of Solo 401(k) plan works best for you, comprehensively review the plan options to ensure that it satisfies your retirement planning, tax, and investment goals. 

IRA Financial Group has partnered with Capital One Bank to simplify how you establish your Solo 401(k). Your assigned specialist will open the plan bank account and complete the necessary documentation. All you have to do is invest your retirement funds in assets you know and trust.

Learn more about the Solo 401(k) from IRA Financial Group’s blog, videos, podcast and Forbes articles.

*A full-time employee is someone who works more than 1000 hours a year.

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We’ve partnered with Capital One Bank to simplify how you establish an account with us.

What our Solo 401(k) offers

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High Contribution Limits

Plan participants can make higher contributions. If under the age of 50, make a maximum employee deferral contribution of $19,500 ($26,000 if over 50). That amount can be made in pre-tax or after-tax (Roth). 

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Checkbook Control

With our checkbook control plan, you can serve as trustee and gain control over your retirement funds. Making investments, such as in real estate, is as easy as writing a check or executing an online wire transfer. 

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Tax-Free $50k Loan

Participants can borrow up to either $50,000 or 50% of their account value, whichever is less, tax free and without penalty. This loan has to be repaid over an amortization schedule of 5 years or less with payment frequency no greater than quarterly.

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Tax-Free Real Estate Investment

Real estate purchased with an IRA is leveraged with mortgage financing and creates Unrelated Debt Financed Income (UDFI), a type of Unrelated Business Taxable Income (UBTI or UBIT). But with a Solo 401(k), you can use leverage without being subject to the tax.

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Simple Administration

The Solo 401(k) plan is very easy to administer. There is generally no annual filing requirement unless your plan exceeds $250,000 in assets, in which case you will need to file a short information return with the IRS. The short information return is Form 5500-EZ

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Strong Creditor Protection

Retirement accounts have become many Americans’ most valuable assets. The Solo 401(k) receives full bankruptcy protection, so if a plan participant files for bankruptcy, his/her 401(k) assets will not be attacked by creditors. 

Here’s what you get when you open an account with us

  • IRS approved Self-Directed Solo 401(k) Plan
  • Free tax consultation with in-house tax professionals regarding the Solo 401(k) plan, the UBTI and UDFI rules, and the “Disqualified Person” and “Prohibited Transaction” rules
  • Free tax consultation with in-house CPA on IRS Form 5500-EZ & and assistance with completing the form
  • IRS Opinion Letter, Adoption Agreement, Basic Plan Document, EGTRRA Amendment, Summary Plan Description, Trust Agreement
  • Appointment of Trustee and Beneficiary Designation
  • Loan Procedure and Loan Promissory Note
  • Application for plan trust EIN
  • Assistance with tax-free rollover of funds to Solo 401(k) Plan and with opening plan bank account
  • Guaranteed IRS audit Protection


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Popular Solo 401(k) Investments

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The advantage of using retirement funds to invest in notes or hard money loans investments is that all income and gains generated by the debt investment will not be subject to any tax or penalty. Instead of paying tax on the investment returns, you pay at a later date, allowing the investment to grow unhindered. Learn More.

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Cryptocurrencies is a form of digital currency that has become a popular investment class for investors around the world. Blockchain technology, the main technology used to power cryptocurrency, is expected by many to revolutionize financial transactions. Learn More.

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Foreign Currencies/Options

Foreign currencies/options are a common investment among retirement account holders, particularly speculators. Since the advent of self-directed IRAs, the IRS has allowed you to make foreign currency/options investments with your IRA funds. Learn More.

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Tax Liens/Tax Deeds

Tax liens/tax deeds can be purchased using retirement funds and is more tax-efficient when using a self-directed IRA. If you’re trying to decide whether to invest in liens or deeds, it depends on your investment goals. Learn More.

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Real Estate

Real estate is the most popular alternative asset investment for retirement account holders. Since the start of self-directed IRAs, the IRS has permitted you to engage in almost any type of real estate investment, generally aside from investments involving a disqualified person. Learn More.

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Private Businesses/Private Placements

Small private business that need capital to grow the business can benefit from a private placement, which involves the sale of securities or membership interests to a relatively small number of select investors. Learn More.

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Investment Funds

The idea behind investing in an investment funds is that the investment fund provides a broader selection of investment opportunities, greater management expertise and lower investment fees than investors might be able to obtain on their own. Common investment funds include hedge funds and private equity funds. Learn More.

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Did You Know?

A Solo 401k plan is IRS approved and can be used to diversify your portfolio between traditional and alternative assets. Investments can be made in real estate, tax liens, precious metals, cryptocurrency, stocks, mortgages, and more. To learn more about Solo 401k plans and what they can be used for, visit us here.

Get a Free Consultation with a Tax Specialist!

Take control of your retirement investments. Give us a call at 1-800-472-0646 or fill out the form to learn more about opening a Solo 401(k).

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