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Updated almost 9 years ago on . Most recent reply

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4
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Scott Drennan
  • Investor
  • Canton, MI
0
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4
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Solo 401k - LLC - Brokerage & Bank Structure

Scott Drennan
  • Investor
  • Canton, MI
Posted

I'm going to select a provider to open up a Solo 401k. I'm thinking I would then do a large rollover from another 401k into this Solo 401k by putting the funds in a Fidelity brokerage account with check writing. Then write a Fidelity check to a new bank checking account of a to-be-formed LLC for real estate investments. Any comments on the structure, and any recommendations on what bank? I just called Chase and they said they wouldn't let me open up an LLC checking account where the LLC is owned by a Solo 401k. All of this is new to me, so any advice much appreciated!

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