Setting up Solo 401K Plan as an employee

[Chatree C.]

I have a side online business, self-employed, and my CPA suggested that I should open solo 401k with that business and move my SDIRA funds into this Solo K account since it's got better tax treatment around UBIT.

I contacted IRA Services and Trust (custodian) whom I have IRA account with and they said in order to open Solo K, I have to establish my company's Solo K Plan and provide them with "Self Employed 401(k) Custody Agreement".

They said I can hire a CPA or lawyer to do that. My CPA said the custodian should take care of it. What should I do? Should I find another custodian or is it easy to set up Solo K plan as an employee?

[Daniel Dietz]

@Chatree C. I and my 3 partners have SOLO401Ks. My suggestions would be to use one of the providers you can find here on BP..... they either specialize or have a lot of experience in these types of plans and in my experience would offer superior service over a 'larger' firm. I am sure a few of them like @George Blower , @Dmitriy Fomichenko , @Brian Eastman will chime in with some advice too. They are not allowed to 'advertise' their services directly here, so what I did was reach out and give them and call to see who is the best match to you. My feeling was that any and all of them would be better than working with a larger firm where SOLO401s are not a main focus. 

Dan Dietz