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Home | Services | Solo 401(k) Set-Up

Solo 401(k) Set-Up

  • Set up Solo 401(k) using our law firm’s IRS pre-approved solo 401(k) docs tailored to your company.
  • Consult with Attorney up to 1 hour on Solo 401(k) on plan docs, qualification, contribution, conversions, and self-directing.
  • Includes solo 401(k) plan documents, adoption agreement, obtain plan EIN, and a comprehensive solo 401(k) binder with instructions on operating the solo(k) and common forms.

$995 with attorney support.

Docs only (no attorney support) is $495
For docs only, call the office at 435-586-9366.

Frequently Asked Questions

Q: What do I need to qualify for a Solo 401k?

A: You need a small business that makes active or earned income. This business will be your employing entity that will adopt the 401k plan for you. You also cannot have any employees other than you, your spouse and your business partners.

Q: Do I have to have an S-Corp as my adopting entity?

A: No, you can adopt a 401k plan with an S-Corp, LLC or Sole Proprietor.

Q: I work a W-2 job and have a 401k with them, can I also have a Solo 401k with my side business?

A: Yes! You will just have to keep track of your contributions to both plans to not go over the yearly contribution limit.

Q: What kind of maintenance is needed for Solo 401ks?

A: We have two different maintenance options: the annual compliance plan and the custodial account. The annual compliance plan is $150 per year and we make sure your plan remains in compliance with the IRS and Dept. of Labor. You will have immediate checkbook control and are responsible for all recordkeeping and any applicable IRS filings. With the custodial account option Directed Trust Company will open your account(s), handle the recordkeeping and applicable IRS filings. You can have checkbook control with a 401k LLC.

Articles & Other Videos

Why Do a Solo 401k?

Mark and Mat break down the reasons why you should consider a solo 401(k). If you’re self-employed with no employees or even employed with a day-job and you have a “side-hustle” then this is one of the first retirement accounts you should consider. We explain contributions, how you can self-direct into real estate or other alternatives, how you save on taxes, how you have control and outline the issues to consider.

How to Use An LLC/IRA  podcast link

2021 Solo 401(k) Contribution Deadlines: Rules, Steps, and Strategies

A Solo 401(k) is a retirement plan for small business owners or self-employed persons who have no other full-time employees other than partners or a spouse. There are three important deadlines you must know if you have a Solo 401(k) or if you plan to set one up.

How to Use a Self-Directed Solo 401k

Learn how the Solo 401k can be used by the self-employed to self-direct and build wealth!! Mat Sorensen, has special guest Kevin Kennedy, attorney at KKOS Lawyers, join the Podcast to give an overview and answer the most frequently asked questions on Solo 401ks.