The Ultimate Retirement Plan
Self-directed Solo 401k is the ultimate retirement plan for those who work for themselves and have no full-time employees other than their spouse. Any business structure will qualify: sole proprietorship, partnership, LLC, corporation, etc.
The Economic Growth and Tax Relief Reconciliation Act (EGTRRA), passed in 2001, stipulates how the self-employed or sole business owner can use a 401k. In particular, the act clarifies that a single qualifying participant can make contributions in the role of employee and employer. This can lead to very high contribution limits.
You may qualify for the Solo 401k if you meet two eligibility requirements:
- The presence of self-employment activity
- The absence of full-time employees
Understanding Solo 401k
With a self-directed Solo 401k Plan from 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! Our process ensures speed, accuracy and compliance.
Our Solo 401k Establishment Service Includes:
- Adoption Agreement
- Basic Plan Document
- Post-PPA 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
- IRS Registered Tax ID (EIN) with Tax Exempt Status
- IRS Opinion Letter
- Plan Serial Number
Our Annual Solo 401k Compliance Service Includes:
- Unlimited client support
- Assistance with filing of tax forms 5500-EZ and 1099-R
- Maintenance of Plan Documents to ensure IRS-compliance
- Assistance with Rollover/Transfer
- Dedicated Account Manager
- 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-the-art Client Portal
What our clients are saying:
Alternate investment options with your self-directed account:
Investments That Make Sense!
It’s Your Money. It’s Your Future. Invest Your Way.