Solo401k Fees

[Damien Cobbs]

Hello BiggerPockets family,

I have finally decided to open a solo 401k to help me with my house flipping adventures. I think I am at a point where I have read so much and I have confused myself and started to blur lines. I see that some solo401k (or self-directed or self employed 401ks) cost money to open while others appear to be free, $0 to open and $0 annual maintenance (like Fidelity and TD Ameritrade). I have not called any of the providers yet to get a lowdown on their fee structures or what services they provide. What are the differences between the solo401k providers that charge fees and the ones that don't advertise that they do? I already have a LLC setup. What am I missing?

Thanks,

Damien

[Chris Soignier]

The Solo 401K's provided by the brokerage houses are designed to enable you to invest in things they sell, not real estate and other private transactions.    When I set up my Solo 401K, I tried to keep my money @ TD Ameritrade as the custodian, but they wouldn't do it.

Fidelity, however, does, and so far hasn't charged me any fees.    I paid Sense Financial for setup documentation, and there's an annual fee to remain compliant, but that's about it.