11 March 2016 | 17 replies
It was unfortunate we waited until early December to make the roll over (she transferred to a Roth once it was rolled over to the new SD custodian).
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18 July 2021 | 12 replies
It might be best if you roll over to a BDRA or SDRA which allows you to transact directly through the account without any personal risk, this will safeguard your investment and you as well...
27 April 2017 | 5 replies
In principle, a 401(k) could allow in-service distributions that could be used to rollover funds from your employer-plan to a Self-directed IRA or Solo(k).
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7 July 2017 | 13 replies
You have to roll over the value of your relinquished property (which you obviously intend to do) but you can add additional equity or debt as you see fit.
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17 August 2017 | 8 replies
What you can do is a rollover (https://www.irs.gov/retirement-plans/plan-participant-employee/rollovers-of-retirement-plan-and-ira-distributions) from your employer's retirement account into another retirement account, including a self-directed one.
11 January 2016 | 6 replies
The Self-Directed IRA and Solo 401k Similarities Both were created by congress for individuals to save for retirement;Both may be invested in alternative investments such as real estate, precious metals tax liens, promissory notes, private company shares, and stocks and mutual funds, to name a few;Both allow for Roth contributions;Both are subject to prohibited transaction rules;Both are subject to federal taxes at time of distribution;Both allow for checkbook control for placing alternative investments;Both may be invested in annuities;Both are protected from bankruptcy creditors;Both are prohibited from investing in assets listed under I.R.C. 408(m); andNeither may be directly invested in your own business startup The Self-Directed IRA and Solo 401k DifferencesIn order to open a solo 401k, self-employment, whether on a part-time or full-time basis, is required;To open a self-directed IRA, self-employment income is not required;In order to gain IRA checkbook control over the self-directed IRA funds, a limited liability company (self-directed IRA LLC) must be utilized;The solo 401k allows for checkbook control outside the LLC;The solo 401k allows for personal loan known as a solo 401k plan.If you borrow from your own IRA, it will be deemed a taxable distribution;Unlike an IRA, a Solo 401k can invest in life insurance;The solo 401k allow for high contribution amounts (for 2015; the solo 401k contribution limit is $53,000, whereas the self-directed IRA contribution limit is $5,500);The solo 401k business owner can serve as trustee of his or her solo 401k;The self-directed IRA participant/owner may not serve as trustee or custodian of his or her IRA; instead, a trust company or bank institution is required;Unlike an IRA, generally when distributions commence from the solo 401k a mandatory 20% of federal taxes must be withheld from each distribution and submitted electronically to the IRS by the 15th of the month following the date of each distribution;Rollovers and/or transfers from IRAs or qualified plans (e.g., former employer 401k) to a solo 401k are not reported on Form 5498, but rather on Form 5500-EZ, but only if the air market value of the solo 401k exceeds $250K as of the end of the plan year (generally 12/31);When funds are rolled over or transferred from an IRA or 401k to a self-directed IRA, the amount deposited into the self-directed IRA is reported on Form 5498 by the receiving self-directed IRA custodian, generally by May of the year following the rollover/transfer.Rollovers (provided the 60 day rollover window is satisfied) from an IRA to a Solo 401k or self-directed IRA are reported on lines 15a and 15b of Form 1040;Pre-tax IRA contributions on reported on line 32 of Form 1040;Pre-tax solo 401k contributions are reported on line 28 of Form 1040;Roth solo 401k funds are subject to RMDs;A Roth 401k may be transferred to a Roth IRA--from a planning perspective, it may be advantageous to transfer Roth Solo 401k funds to a Roth IRA before turning age 70 ½ in order to escape the Roth 401k RMD requirement;Roth IRA funds are not subject to requirement minimum distributions (RMDs);The fair market value (FMV) of assets held in a self-directed IRA is reported on form 5498;The fair market value of assets held in a solo 401k are reported on Form 5500-EZ;At termination, the solo 401k is required to file a final Form 5500-EZ and 1099-R; andAt termination, the self-directed IRA is only required to file a form 1099-R.
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29 April 2018 | 5 replies
I have a friend that wants to lend on some deals, but he needs to rollover to an SDIRA that gives checkbook control.Do you know of a provider that I can recommend?
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19 August 2013 | 5 replies
I need to live in condo until Nov 15 for the 2 out of 5 gain rollover or rent it out and then live in it for 2 months before I sell it.
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20 August 2016 | 19 replies
Among 401k's that are not self-directed, either the old plan or the new plan may likely disallow the rollover.
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10 August 2017 | 5 replies
Another option is you could let it roll over to month-to-month lease, which would keep your property rented, but give you more flexibility to not renew if the late pays continue.