Solo 401k Basics: Going Solo

The 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. sole proprietorship, partnership, LLC, corporation, or 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 – if you meet two Solo 401k eligibility requirements:

  1. The presence of self-employment activity
  2. The absence of full-time employees
Checkbook IRA- Build Wealth Quickly

Solo 401k Basics: Going Solo

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! Our process ensures speed, accuracy and compliance. Your funds will be ready for investment into your new Solo 401k Trust within 3 business days.

Contact us today to get started!

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

Rollover funds from your existing IRA, 401k, or almost any other qualified retirement plans

Gain total Checkbook Control over your retirement fund and invest without custodial fees or delay

Be Your Own Trustee

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

This means, as Trustee of the Plan, you can make investments by simply writing a check from your 401k Trust account.  This makes a Solo 401k ideal for real estate and other non-traditional 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 transaction with the trust.

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
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:

 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 are the alternate investment options you get with Sense Financial?

Real Estate

Precious Metals

Private Business

Stock & Funds

Private Lending

Tax Deeds/Liens

Take Control of Your Retirement.

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