Solo 401k Basics

The self-directed Solo 401k (also known as Individual K or Owner-Only 401k) is the ultimate qualified retirement plan for those who work for themselves and have no full-time employees other than their spouse. Self-employed individuals can qualify regardless of their business capacity or structure (e.g. sole proprietorship, partnership, LLC, corporation, independent consultant, 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:

  1. The presence of self-employment activity
  2. 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. 

Contact us today to get started!

Open a self-directed Solo 401k account with a qualified sponsoring business or self-employment activity.

Roll over funds from your existing IRA, 401k, or almost any other qualified retirement plans except a Roth IRA.

Gain total checkbook control over your retirement fund and invest without custodial fees or delay.

Be Your Own Trustee

Be Your Own Trustee

Every 401k designates a trustee to hold the assets of your retirement plan. In the case of the Solo 401k, you may act as your own trustee, which gives you “checkbook control” over the assets and lets you invest as you see fit.

As the trustee of the plan, you can make investments from your 401k Trust account by simply writing a check.  This makes the Solo 401k ideal for real estate and other nontraditional investments. However, as a trustee, you are prohibited from benefiting directly from the trust. You may not combine personal money with the trust or do any prohibited transactions with the trust.

Our Solo 401k Establishment Service Includes:

  • Adoption Agreement
  • Basic Plan Document
  • 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 and Serial Number

Our Annual Solo 401k Compliance Service Includes:

  • Unlimited client support
  • Assistance with filing of tax forms 5500-EZ and 1099-R (if required)
  • Maintenance of Plan Documents to ensure IRS-compliance
  • Provide Customized Transfer/Rollover Forms
  • 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-the-art Client Portal

What our clients are saying:

I started a Solo 401K plan with Dmitriy’s Sense Financial in 2015. It has been a great experience since then and the Solo 401k plan has been a wonderful tool. 

Tony S. – Skillman, NJ

Ben D.

In my opinion, anyone that owns their own business should have a Solo 401K, and I would highly recommend Sense Financial – you will not be disappointed!

Ben D. – Spokane, WA

Dmitriy and his staff have been incredibly kind, helpful, and responsive while I have been going through the process of setting up my Solo 401k plan.

Sandra H. – Chicago, IL

Alternate investment options you get with a Self Directed Solo 401k:

Real Estate

Precious Metals

Private Business

Stock & Funds

Private Lending

Tax Deeds/Liens

Financial Concepts that Make Sense!

Greater Flexibility. Investment Freedom. Hassle-Free Management.

Our expert team is always ready to answer you! Give us a call at (949) 228-9394. You can email us at

Live Q&A Session: Wednesday April 12th 11:00 PST