Hey guys, I just opened a solo 401k last year and did an in-plan Roth conversion. I am trying to file a 1099R using tax1099.com for the roth conversion and have a couple questions. • 1. Should the payer be my Company or my Solo k Trust or the Trustee ( which is my personal name or the bank where the account is held?2. Should the recipient's name be my personal name or the solo k plan trust name? Thanks for your advice! Sophie

@Sophie Wang You should not DIY this, contact your plan provider and they will correctly file it for you with the IRS.

They are supposed to offer ongoing support, but when asking them questions they say "we are not attorneys or cpas and can not provide advice" blabla. Funny when they advertise their difference from the other solo k providers, they say that is what the other providers would say when you ask questions, but after signing up with them, they say exactly that same line. I did see in the package they provide there is a compliant document. I am not sure who is taking care of the sponsor reporting, plan amendments and restatements, but I assume the provider is, since they are charging annual fee for the plan

@Sophie Wang Somewhat odd plan provider... they sell plan documents but don't provide any ongoing support? Did you receive IRS determination letter certifying that your plan is IRS-compliant? Who is taking care of the sponsor reporting, plan amendments and restatements?

Thanks Dmitriy. Unfortunately my plan provider does not help with any of these like rollover / 1099R / on-going paperwork , they just set up the plan and give me the initial documents and I am pretty much on my own after that. I probably should have chosen another plan provider that provides following up services instead. By the way, I just read about an article saying something like there is a 2 year waiting period before the fund in a solo 401k can be converted to Roth solo k, it that true? I rolled over my IRA into solo k and did an in-plan roth rollover immediately. Is that a problem? Thanks! Sophie

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Updated about 4 years ago on 01/10/2021. Most recent reply

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Sophie WangPoster

Investor
Denver, CO

Tax, SDIRAs & Cost Segregation

File 1099R for solo 401k in plan roth conversion?

Sophie WangPoster

Investor
Denver, CO

Posted January 06, 2021 16:38

Hey guys,

I just opened a solo 401k last year and did an in-plan Roth conversion. I am trying to file a 1099R using tax1099.com for the roth conversion and have a couple questions.

1. Should the payer be my Company or my Solo k Trust or the Trustee ( which is my personal name or the bank where the account is held?
2. Should the recipient's name be my personal name or the solo k plan trust name?

File 1099R for solo 401k in plan roth conversion?

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