Solo 401k Distribution

[Mark H.]

I am the trustee and admin of the solo 401k plan of my business.

What paperwork is required for an employee early distribution to comply with DOL and IRS rules? How do I report it for taxes for both employer and employee?

Thanks in advance.

[Dmitriy Fomichenko]

Mark, check with your Solo 401k plan provider for the appropriate distribution paperwork. First, you need to complete the distribution form and then plan must issue 1099-R and submit that to the IRS with the copy to the plan participant.