Admin & Compliance
63 articles
General
4 articlesWhat do I do with 1099s and K-1s received by my plan?
Receiving a 1099 or K-1 issued to your IRA or Solo 401(k) is normal. These forms require different handling depending on which type you received, but in most cases, no tax filing is needed. Why does my plan receive these forms? When an investment ...
Does my plan need to issue 1099-NECs?
Yes. Your IRA LLC, IRA Trust, or Solo 401(k) issues Form 1099-NEC to the service vendors it pays, under the same filing obligations that apply to any other business or individual making payments in the course of business. A missed or late filing ...
Does my plan need to file a tax return?
Most self-directed plans file nothing. Two situations create an obligation: the plan earns unrelated business income, or a Solo 401(k) exceeds the Form 5500-EZ asset threshold. Your plan type determines which can apply. When an IRA needs to file An ...
How do I value the assets in my plan?
Why valuation is required The IRS requires annual reporting of IRA account values on Form 5498. Your custodian prepares this form but relies on you to report the value of assets they cannot look up on an exchange. For Solo 401(k) plans with assets ...
IRA Administration
3 articlesWhat recordkeeping is required for IRA plans?
The IRS does not prescribe a specific format for IRA recordkeeping, but as the manager of a checkbook IRA, the responsibility for maintaining accurate plan records falls entirely on you. Why checkbook IRAs require more recordkeeping diligence In a ...
What is the annual valuation requirement (Form 5498)?
Every IRA must report its year-end value to the IRS annually. Your custodian handles the filing, but for a checkbook IRA, you are responsible for providing the numbers. How Form 5498 works Form 5498 is an informational return filed by your IRA ...
How do I maintain my LLC's good standing?
Every state requires LLCs registered in that state to meet ongoing compliance obligations. Keeping your IRA LLC in good standing is your responsibility as the manager, and lapses can have serious consequences for your plan. What good standing means ...
LLC State Compliance
52 articlesWhat are Alabama IRA LLC compliance requirements?
Alabama IRA LLC Compliance Last Verified: January 31, 2026 Why is state compliance important for my IRA LLC? To maintain the legal protections provided by your IRA LLC structure, you must keep the entity in "Good Standing" with the State of Alabama. ...
What are Alaska IRA LLC compliance requirements?
Alaska IRA LLC Compliance Last Verified: January 31, 2026 Why is state compliance important for my IRA LLC? To maintain the legal protections provided by your IRA LLC structure, you must keep the entity in "Good Standing" with the State of Alaska. ...
What are Arizona IRA LLC compliance requirements?
Arizona IRA LLC Compliance Last Verified: January 31, 2026 Why is state compliance important for my IRA LLC? To maintain the legal protections provided by your IRA LLC structure, you must keep the entity in "Good Standing" with the State of Arizona. ...
What are Arkansas IRA LLC compliance requirements?
Last Verified: January 31, 2026 Why is state compliance important for my IRA LLC? To maintain the legal protections provided by your IRA LLC structure, you must keep the entity in "Good Standing" with the State of Arkansas. This requires submitting ...
What are California IRA LLC compliance requirements?
Last Verified: January 31, 2026 Why is state compliance important for my IRA LLC? To maintain the legal protections provided by your IRA LLC structure, you must keep the entity in "Good Standing" with the State of California. This requires submitting ...
What are Colorado IRA LLC compliance requirements?
Last Verified: January 31, 2026 Why is state compliance important for my IRA LLC? To maintain the legal protections provided by your IRA LLC structure, you must keep the entity in "Good Standing" with the State of Colorado. This requires submitting a ...
What are Connecticut IRA LLC compliance requirements?
Connecticut IRA LLC Compliance Last Verified: January 31, 2026 Why is state compliance important for my IRA LLC? To maintain the legal protections provided by your IRA LLC structure, you must keep the entity in "Good Standing" with the State of ...
What are Delaware IRA LLC compliance requirements?
Delaware IRA LLC Compliance Last Verified: January 31, 2026 Why is state compliance important for my IRA LLC? To maintain the legal protections provided by your IRA LLC structure, you must keep the entity in "Good Standing" with the State of ...
What are District of Columbia IRA LLC compliance requirements?
Last Verified: January 31, 2026 Why is state compliance important for my IRA LLC? To maintain the legal protections provided by your IRA LLC structure, you must keep the entity in "Good Standing" with the District of Columbia. This requires ...
What are Florida IRA LLC compliance requirements?
Florida IRA LLC Compliance Last Verified: January 31, 2026 Why is state compliance important for my IRA LLC? To maintain the legal protections provided by your IRA LLC structure, you must keep the entity in "Good Standing" with the Florida Division ...
What are Georgia IRA LLC compliance requirements?
Georgia IRA LLC Compliance Last Verified: January 31, 2026 Why is state compliance important for my IRA LLC? To maintain the legal protections provided by your IRA LLC structure, you must keep the entity in "Good Standing" with the State of Georgia. ...
What are Hawaii IRA LLC compliance requirements?
Last Verified: January 31, 2026 Why is state compliance important for my IRA LLC? To maintain the legal protections provided by your IRA LLC structure, you must keep the entity in "Good Standing" with the State of Hawaii. This requires submitting an ...
What are Idaho IRA LLC compliance requirements?
Last Verified: January 31, 2026 Why is state compliance important for my IRA LLC? To maintain the legal protections provided by your IRA LLC structure, you must keep the entity in "Good Standing" with the State of Idaho. This requires submitting ...
What are Illinois IRA LLC compliance requirements?
Illinois IRA LLC Compliance Last Verified: January 31, 2026 Why is state compliance important for my IRA LLC? To maintain the legal protections provided by your IRA LLC structure, you must keep the entity in "Good Standing" with the State of ...
What are Indiana IRA LLC compliance requirements?
Indiana IRA LLC Compliance Last Verified: January 31, 2026 Why is state compliance important for my IRA LLC? To maintain the legal protections provided by your IRA LLC structure, you must keep the entity in "Good Standing" with the State of Indiana. ...
What are Iowa IRA LLC compliance requirements?
Last Verified: January 31, 2026 Why is state compliance important for my IRA LLC? To maintain the legal protections provided by your IRA LLC structure, you must keep the entity in "Good Standing" with the State of Iowa. This requires submitting ...
What are Kansas IRA LLC compliance requirements?
Kansas IRA LLC Compliance Last Verified: January 31, 2026 Why is state compliance important for my IRA LLC? To maintain the legal protections provided by your IRA LLC structure, you must keep the entity in "Good Standing" with the State of Kansas. ...
What are Kentucky IRA LLC compliance requirements?
Kentucky IRA LLC Compliance Last Verified: January 31, 2026 Why is state compliance important for my IRA LLC? To maintain the legal protections provided by your IRA LLC structure, you must keep the entity in "Good Standing" with the Commonwealth of ...
What are Louisiana IRA LLC compliance requirements?
Louisiana IRA LLC Compliance Last Verified: January 31, 2026 Why is state compliance important for my IRA LLC? To maintain the legal protections provided by your IRA LLC structure, you must keep the entity in "Good Standing" with the State of ...
What are Maine IRA LLC compliance requirements?
Last Verified: January 31, 2026 Why is state compliance important for my IRA LLC? To maintain the legal protections provided by your IRA LLC structure, you must keep the entity in "Good Standing" with the State of Maine. This requires submitting a ...
What are Maryland IRA LLC compliance requirements?
Maryland IRA LLC Compliance Last Verified: January 31, 2026 Why is state compliance important for my IRA LLC? To maintain the legal protections provided by your IRA LLC structure, you must keep the entity in "Good Standing" with the State of ...
What are Massachusetts IRA LLC compliance requirements?
Massachusetts IRA LLC Compliance Last Verified: January 31, 2026 Why is state compliance important for my IRA LLC? To maintain the legal protections provided by your IRA LLC structure, you must keep the entity in "Good Standing" with the Commonwealth ...
What are Michigan IRA LLC compliance requirements?
Michigan IRA LLC Compliance Last Verified: January 31, 2026 Why is state compliance important for my IRA LLC? To maintain the legal protections provided by your IRA LLC structure, you must keep the entity in "Good Standing" with the State of ...
What are Minnesota IRA LLC compliance requirements?
Minnesota IRA LLC Compliance Last Verified: January 31, 2026 Why is state compliance important for my IRA LLC? To maintain the legal protections provided by your IRA LLC structure, you must keep the entity in "Good Standing" with the State of ...
What are Mississippi IRA LLC compliance requirements?
Mississippi IRA LLC Compliance Last Verified: January 31, 2026 Why is state compliance important for my IRA LLC? To maintain the legal protections provided by your IRA LLC structure, you must keep the entity in "Good Standing" with the State of ...
What are Missouri IRA LLC compliance requirements?
Missouri IRA LLC Compliance Last Verified: January 31, 2026 Why is state compliance important for my IRA LLC? To maintain the legal protections provided by your IRA LLC structure, you must keep the entity in "Good Standing" with the State of ...
What are Montana IRA LLC compliance requirements?
Montana IRA LLC Compliance Last Verified: January 31, 2026 Why is state compliance important for my IRA LLC? To maintain the legal protections provided by your IRA LLC structure, you must keep the entity in "Good Standing" with the State of Montana. ...
What are Nebraska IRA LLC compliance requirements?
Nebraska IRA LLC Compliance Last Verified: January 31, 2026 Why is state compliance important for my IRA LLC? To maintain the legal protections provided by your IRA LLC structure, you must keep the entity in "Good Standing" with the State of ...
What are Nevada IRA LLC compliance requirements?
Nevada IRA LLC Compliance Last Verified: January 31, 2026 Why is state compliance important for my IRA LLC? To maintain the legal protections provided by your IRA LLC structure, you must keep the entity in "Good Standing" with the Nevada Secretary of ...
What are New Hampshire IRA LLC compliance requirements?
Last Verified: January 31, 2026 Why is state compliance important for my IRA LLC? To maintain the legal protections provided by your IRA LLC structure, you must keep the entity in "Good Standing" with the State of New Hampshire. This requires ...
What are New Jersey IRA LLC compliance requirements?
New Jersey IRA LLC Compliance Last Verified: January 31, 2026 Why is state compliance important for my IRA LLC? To maintain the legal protections provided by your IRA LLC structure, you must keep the entity in "Good Standing" with the State of New ...
What are New Mexico IRA LLC compliance requirements?
New Mexico IRA LLC Compliance Last Verified: January 31, 2026 Why is state compliance important for my IRA LLC? To maintain the legal protections provided by your IRA LLC structure, you must keep the entity in "Good Standing" with the State of New ...
What are New York IRA LLC compliance requirements?
New York IRA LLC Compliance Last Verified: January 31, 2026 Why is state compliance important for my IRA LLC? To maintain the legal protections provided by your IRA LLC structure, you must keep the entity in "good standing" with the New York ...
What are North Carolina IRA LLC compliance requirements?
North Carolina IRA LLC Compliance Last Verified: January 31, 2026 Why is state compliance important for my IRA LLC? To maintain the legal protections provided by your IRA LLC structure, you must keep the entity in "Good Standing" with the North ...
What are North Dakota IRA LLC compliance requirements?
Last Verified: January 31, 2026 Why is state compliance important for my IRA LLC? To maintain the legal protections provided by your IRA LLC structure, you must keep the entity in "Good Standing" with the State of North Dakota. This requires ...
What are Ohio IRA LLC compliance requirements?
Ohio IRA LLC Compliance Last Verified: January 31, 2026 Why is state compliance important for my IRA LLC? To maintain the legal protections provided by your IRA LLC structure, you must keep the entity in "Good Standing" with the State of Ohio. Unlike ...
What are Oklahoma IRA LLC compliance requirements?
Oklahoma IRA LLC Compliance Last Verified: January 31, 2026 Why is state compliance important for my IRA LLC? To maintain the legal protections provided by your IRA LLC structure, you must keep the entity in "Good Standing" with the State of ...
What are Oregon IRA LLC compliance requirements?
Oregon IRA LLC Compliance Last Verified: January 31, 2026 Why is state compliance important for my IRA LLC? To maintain the legal protections provided by your IRA LLC structure, you must keep the entity in "Good Standing" with the State of Oregon. ...
What are Pennsylvania IRA LLC compliance requirements?
Last Verified: January 31, 2026 Why is state compliance important for my IRA LLC? To maintain the legal protections provided by your IRA LLC structure, you must keep the entity in "Good Standing" with the Commonwealth of Pennsylvania. This requires ...
What are Puerto Rico IRA LLC compliance requirements?
Puerto Rico IRA LLC Compliance Last Verified: February 2, 2026 Why is state compliance important for my IRA LLC? To maintain the legal protections provided by your IRA LLC structure, you must keep the entity in "Good Standing" with the Puerto Rico ...
What are Rhode Island IRA LLC compliance requirements?
Rhode Island IRA LLC Compliance Last Verified: January 31, 2026 Why is state compliance important for my IRA LLC? To maintain the legal protections provided by your IRA LLC structure, you must keep the entity in "Good Standing" with the State of ...
What are South Carolina IRA LLC compliance requirements?
Last Verified: January 31, 2026 Why is state compliance important for my IRA LLC? To maintain the legal protections provided by your IRA LLC structure, you must keep the entity in "Good Standing" with the State of South Carolina. While South Carolina ...
What are South Dakota IRA LLC compliance requirements?
South Dakota IRA LLC Compliance Last Verified: January 31, 2026 Why is state compliance important for my IRA LLC? To maintain the legal protections provided by your IRA LLC structure, you must keep the entity in "Good Standing" with the State of ...
What are Tennessee IRA LLC compliance requirements?
Tennessee IRA LLC Compliance Last Verified: January 31, 2026 Why is state compliance important for my IRA LLC? To maintain the legal protections provided by your IRA LLC structure, you must keep the entity in "Good Standing" with the State of ...
What are Texas IRA LLC compliance requirements?
Texas IRA LLC Compliance Last Verified: January 31, 2026 Why is state compliance important for my IRA LLC? To maintain the legal protections provided by your IRA LLC structure, you must keep the entity in "Good Standing" with the state of Texas. This ...
What are Utah IRA LLC compliance requirements?
Utah IRA LLC Compliance Last Verified: January 31, 2026 Why is state compliance important for my IRA LLC? To maintain the legal protections provided by your IRA LLC structure, you must keep the entity in "Good Standing" with the State of Utah. This ...
What are Vermont IRA LLC compliance requirements?
Last Verified: January 31, 2026 Why is state compliance important for my IRA LLC? To maintain the legal protections provided by your IRA LLC structure, you must keep the entity in "Good Standing" with the State of Vermont. This requires submitting ...
What are Virginia IRA LLC compliance requirements?
Virginia IRA LLC Compliance Last Verified: January 31, 2026 Why is state compliance important for my IRA LLC? To maintain the legal protections provided by your IRA LLC structure, you must keep the entity in "Good Standing" with the Commonwealth of ...
What are Washington IRA LLC compliance requirements?
Washington IRA LLC Compliance Last Verified: January 31, 2026 Why is state compliance important for my IRA LLC? To maintain the legal protections provided by your IRA LLC structure, you must keep the entity in "Good Standing" with the State of ...
What are West Virginia IRA LLC compliance requirements?
West Virginia IRA LLC Compliance Last Verified: January 31, 2026 Why is state compliance important for my IRA LLC? To maintain the legal protections provided by your IRA LLC structure, you must keep the entity in "Good Standing" with the State of ...
What are Wisconsin IRA LLC compliance requirements?
Wisconsin IRA LLC Compliance Last Verified: January 31, 2026 Why is state compliance important for my IRA LLC? To maintain the legal protections provided by your IRA LLC structure, you must keep the entity in "Good Standing" with the State of ...
What are Wyoming IRA LLC compliance requirements?
Wyoming IRA LLC Compliance Last Verified: January 31, 2026 Why is state compliance important for my IRA LLC? To maintain the legal protections provided by your IRA LLC structure, you must keep the entity in "Good Standing" with the State of Wyoming. ...
Solo 401(k) Admin
4 articlesDoes my plan need to file IRS Form 5500-EZ?
If the total value of your Solo 401(k) exceeds $250,000 at the end of the plan year, yes. A final Form 5500-EZ is also required when you terminate your plan, regardless of plan value. What Form 5500-EZ is Form 5500-EZ is an annual informational ...
Do I need an annual plan statement for my Solo 401(k)?
Yes. As the plan administrator of your Solo 401(k), you are required to provide an annual statement to each plan participant. Because you are both the administrator and the participant, this is an internal document you prepare for your own records. ...
How do I ensure my business is still eligible for a Solo 401(k)?
Review three things each year: your employee headcount, your ownership interests in other businesses, and whether the business still generates earned income. As plan administrator, that review is your responsibility, and eligibility that existed at ...
How do I track participant accounts in a Solo 401(k)?
As plan administrator, you need to know the distinct value of each participant account in your plan at any given point in time. Whatever banking structure you use has to support that. What a participant account is You are a participant in your plan ...