Is an ERISA Fidelity Bond Required for a Solo 401k Plan?
Monday, November 21
QUESTIONIs an ERISA Fidelity Bond Required for a Solo 401k Plan?ANSWERNo because a solo 401k does not fall under Title I of ERISA. Instead a solo 401k is for owner only employee businesses. The purpose of an ERISA Fidelity bond is to protect common-law employees (non-business owners) who particip...
Multiple Retirement Accounts Required Minimum Distribution (RMD) Rules
Sunday, November 20
If you have multiple IRA accounts, you must compute the required minimum distribution (RMD) separately for each account, but the required amount can be withdrawn from any one or combination of your own IRA accounts. Withdrawing from a beneficiary IRA cannot satisfy the required distribution on yo...
Setup Fee for Both Solo 401k Participants
Friday, November 11
QUESTION:I'm currently looking into self directed solo 401k companies in an effort to further diversify my retirement portfolio. (primary interested in Real Estate)So is the initial setup fee and yearly fee per account? Or is there any spousal account benefits?For example, if both my wife and my...
Deposit Stock in My Solo 401k Trust
Friday, November 11
QUESTION:I own some personal stock in a publicly traded company that is held by a transfer agent. These shares are currently in my name registered in my name but I am paying a fee to have them registered in the name of my solo 401k trust account. So I am just now depositing this stock into my s...
Things to Know if You are Considering a 2016 Roth Solo 401k Conversion
Thursday, November 03
Are you considering converting your traditional (pretax) Solo 401k to a Roth Solo 401k (designated Roth account) in 2016? If you are considering this important decision, here are things times you need to understand.The December 31 DeadlineThe deadline for a 2016 in-plan conversion is December 31,...
Starting a real estate investment business with a ROBS 401k
Wednesday, October 05
I am thinking about using my 401k funds to start a real estate investment business using the ROBS plan and have a few genereal questions about it…the business would be involved in flipping houses andalso purchasing rental properties. My wife and I would be the only employees of the company…at ...