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IRA Financial Group Announces Expanded Solo 401(k) Plan Annual Services to Include Filing of IRS Form 5500-EZ

Solo 401(k) plan clients of the IRA Financial Group to be offered IRS Form 5500-EZ completion services

IRA Financial Group, the leading provider of self-directed Solo 401(k) plans, announces a new service for its annual tax and compliance service for Solo 401(k) plan clients to include the completion of the annual IRS information form – 5500-EZ.

“Due to string client demand, we are excited to expand our annual tax and compliance service to include the completion of the IRS Form 5500-EZ for no additional fee for Solo 401(k) plan clients with plan assets exceeding $250,000”, stated Adam Bergman, a partner with the IRA Financial Group. “The string growth in our business has allowed us to add resources to allow us to expand our annual Solo 401(k) compliance fee to include to completion of the IRS Form 5500—EZ,” stated Mr. Bergman.

A Solo 401(k), also known as an individual 401(k) or self-employed 401(k) plan was created specifically for sole proprietors, small businesses and independent contractors such as consultants. A Solo 401(k) Plan can be adopted by any business with no employees other than the owner(s). The business can be established as a sole proprietorship, LLC, corporation, or partnership. With a Solo 401(k) plan, there is generally no annual filing requirement unless the solo 401(k) plan participant’s plan assets exceed $250,000 in assets. In such a case, the Solo 401(k) Plan participant will need to file a short information return with the IRS (Form 5500-EZ). The IRS Form 5500-EZ is due on July 31. Now, IRA Financial Group is offering all its Solo 401(k) Plan clients the service of completing the IRS Form 5500-EZ for no additional fee. “It is our goal to make sure to make sure all applicable 401(k) Plan clients that are required to file an IRS Form 5500-EZ are getting the necessary support they need to make sure the form is completed properly and in a timely manner,” stated Mr. Bergman.

For 2016, the Solo 401(k) Plan, offers one the ability to make annual contributions of up to $53,000 ($59,000 for those over the age of 50), borrow up to $50,000, as well as use his or her retirement funds to make almost any type of investment on their own tax-free and penalty free without requiring the consent of any custodian or person.

The IRA Financial Group was founded by a group of top law firm tax and ERISA lawyers who have worked at some of the largest law firms in the United States, such as White & Case LLP, Dewey & LeBoeuf LLP, and Thelen LLP.

To learn more about the IRA Financial Group please call 800-472-0646.

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Posted in Solo 401(k)