Why does the naming follow this convention?
The IRS and plan counterparties such as banks, brokerages, and investment sponsors have clear expectations for retirement plan naming.
A Solo 401(k) is an employer-sponsored retirement plan, and the plan name should reflect the sponsoring business entity.
This standardized approach prevents confusion when establishing financial accounts, transacting with your plan, or filing plan returns.
How does naming work for different business structures?
- Sole Proprietors: If you operate as a sole proprietor without a formal business entity, your Solo 401(k) is named "{Your First Name} {Your Last Name} 401(k) Plan".
- Example: "Sarah Johnson 401(k) Plan".
- Formal Business Entities: If you operate through an LLC, corporation, or partnership, your Solo 401(k) is named "{Business Entity Name} 401(k) Plan".
- Examples: "Cobalt Consulting LLC 401(k) Plan" or "Johnson Professional Services Inc. 401(k) Plan".
What if I want more privacy?
If you're a sole proprietor and want to avoid using your personal name, you can establish a DBA (Doing Business As) or fictitious business name with your county or state.
This creates a business name separate from your personal identity.
Once you have a registered DBA, we can use that business name for your Solo 401(k): "{DBA Name} 401(k) Plan"
You can continue conducting business under your individual name while using the DBA specifically for retirement plan purposes.
Frequently Asked Questions
- Can I choose my own plan name?
No. We use the convention "{Business Name} 401(k) Plan" for all plans.
- What if I have multiple businesses?
You will establish one Solo 401(k) plan using the name of what you consider your "primary" business.
Any additional businesses you own sign on as "participating employers" to that same plan—they contribute to the plan but are not included in the plan name.
- Does my plan name appear on investments? Yes. When your Solo 401(k) trust opens bank accounts or invests in real estate or private placements, the trust name (which includes the plan name) appears on all documentation. This is why proper naming matters.