With a Self-Directed Solo 401k Plan offered by Sense Financial you now can make High Contributions, Borrow up to $50,000, have Checkbook Control over your retirement funds and use them to invest in real estate, notes, start-up businesses and much more, Tax Free!
Self-Directed Solo 401k (also known as Individual K or Owner-Only 401k) is the Ultimate Qualified Retirement Plan designed for those people who work for themselves without any full-time employees, other than their spouse – in any capacity or structure (e.g. corporation, sole proprietor, LLC, partnership, independent contractor, etc.). This Plans allow a small business owner or self-employed individual the capability to use his or her retirement savings to invest into virtually limitless investment opportunities such as real estate, tax liens and tax deeds, businesses, precious metals, and more on their own without requiring custodian approval on a tax-free basis! This allows plan participant to utilize his knowledge and skills to discover and take advantage of investment opportunities that will help diversify retirement portfolio and maximize its potential for growth.
Individual K or Solo 401k is the most innovative qualified plan approved by the IRS. High Solo 401k Contribution Limits enables client to maximize tax deductible contributions (up to $56,500 per year). Solo 401k Rules allow you to borrow up to $50,000 for any reason, and to diversify your retirement funds into any investment, except collectibles. Do you have potential investment opportunities, such as real estate or a private business that you wish to make with your retirement funds? Want to have the ability to make large tax deductible contributions? Would you like to have tax-free and penalty-free access to a loan up to $50,000 from your 401k, which can be used for any reason including personal use? Then this Ultimate Retirement Plan offered by Sense Financial is your answer!
With a Solo 401k Plan from Sense Financial you now can:
- Contribute up to $56,500 into your plan (nearly 10 times higher compared with Traditional or Roth IRA)
- If your spouse is also part of the business, they can contribute up to additional $56,500 per year
- Invest into real estate, start-up businesses, notes, precious metals, tax-liens & tax-deeds and more
- Borrow up to $50,000 from your Plan for any reason
- You don’t have to hire a custodian, as a trustee you administer your account
- Have total control of your retirement account by serving as trustee of the Plan
- Make after-tax Roth contributions (up to $23,000)
- Use non-recourse financing to buy real estate in your Plan without being subject to UDFI Tax
- Achieve true diversification of your retirement account!
- Grow your retirement funds tax-free with a Roth sub-account!
- Make investment decisions quickly, without custodian consent!
Solo 401k Establishment Service Includes:
- Adoption Agreement
- Basic Plan Document
- EGTRRA Amendment
- Summary Plan Description
- Trust Agreement
- Appointment of Trustee
- Action by Board of Directors
- Beneficiary Designation
- Loan Procedure
- Loan Documentation
- Transfer Request Forms for incoming funds transfers
- Employer Identification Number (EIN) obtained from the IRS for your Solo 401k Trust
- IRS Determination letter stating that this is a Prototype Plan that meets the requirements of a qualified plan
Annual Solo 401k Compliance Service Includes:
- Filing of tax forms 5500-EZ and 1099-R (when required)
- Maintenance of Plan Documents to ensure IRS-compliance
- Provide Transfer Forms and Assistance with Rollover/Transfer
- Interim Plan Amendments as required by the IRS
- Turnkey Process for Solo 401k Bank Account
- Calculation of Annual Contribution Amounts
- GUST, EGTRRA & PPA Documents
- State-of-art Client Web-Portal