How to Solo 401(k)

How to Solo 401(k)
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#1

I’m trying to figure out how to sign up for a Solo 401(k) without a brokerage as the administrator. Has anyone done this and how did you do it? Thank You.


#2

Hi Howard :wave:

Hopefully others with experience with this will weigh in here, but I wanted to welcome you to the community and share this resource, in case you haven’t seen it yet:


#3

Hi @howardbg1963 – I don’t have experience with this, so I can’t be any help, I’m sorry to say. But… just out of curiosity, why do you prefer not using a broker?


#4

Hi, @howardbg1963. You would be the administrator, so I think what you’re looking for is a custodian that will allow you to self-direct your solo 401(k) so you can invest in alternatives (real estate, etc.). Did I get that right?

Your best resource is likely to be a good CPA, who can point you to a reputable company and make sure you steer clear of the IRS’ prohibited transaction rules. Because one violation of those rules, and your entire retirement fund becomes taxable.


#5

I’m also interested as to why you wouldn’t use a broker. My wife is interested in this option as well.