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Updated over 6 years ago,

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John Skilling
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Solo 401K: Fidelity Non-Prototype Retirement account

John Skilling
Posted

Hello all,

I am a sole proprietor a S-Corp and recently setup a Solo 401(k) plan with one of the Solo 401(k) plan providers.

I am in the process of deciding to open up a brokerage account with Fidelity.

I understand I need to complete the Fidelity Non-Prototype Retirement (NPR) account.

I have few questions that I am hoping one of you who use the Fidelity Non-Prototype Retirement accounts can answer.

In my example. The plan name is : ABC Company 401k Plan.  Trustee/Participant is : John Doe. The Trust Name is John Doe Investment Trust.

1) Does Fidelity open the NPR account open the account in the name of ABC Company 401k Plan? Is this considered as a the "core" account?

2) Does Fidelity open up a second FBO account in the name of John Doe, so that he can regularly contribute to 401(k) plan?

3) If Checkwriting Features are elected, are the checks issued to "ABC Company 401k Plan"?

4) If John Doe, through John Doe Investment Trust, decides makes an investment in a software company, can ABC Company 401k Plan write the check for the investment?

The reason I ask these questions is I expect very few investments in an year, and don't want to open up a separate bank account in the name of John Doe Investment Trust.  I am hoping the checks from the Fidelity account can be use for investment purposes.

Thank you for your answers in advance.

John

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