Solo 401(k) Admin
4 articles
Does 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 ...