Things You Should Know About Solo 401k Plan

1
Things You Should Know About Solo 401k

• A Presentation of Dear 401k J
• The Leading 401k Advice Platform in California

2
What Is A 401k Plan?

• 401k is an employer sponsored and the most
  popular retirement saving plan with more than 52
  million active participants.
• If we are to wrap up 401k plan in simple and
  short way, a 401k participant (employee) tells
  employer how much money should go into the
  account that is usually not more than 15.

3
Features Of A Solo 401k Plan
4
Solo 401k Plan Establishment

• A solo 401k is strictly for solo proprietors with
  no additional employees. Contribution may also
  come from spouse if he or she earns any income
  from your business.
• Partnerships with no employees other than
  partners can also establish a solo 401k and their
  spouses can also contribute in case as above.

5
Solo 401k Plan Trustee and Administrator

• A solo 401k plan administrator and trustee could
  be the business owner, partner, spouse or any
  designated third party.

6
Solo 401k Plan Salary Deferral Contributions

• Salary deferral contributions up to 18,000. No
  more than 265,000 of pay can be taken into
  account and must not exceed 100 of pay.
• 53,000 is the employer maximum and salary
  deferral.

7
Solo 401k Catch-Up Contributions

• An additional 6,000 contribution in salary
  deferrals for individuals age 50 or older beyond
  the 18,000. This contribution does not count
  towards the maximum total contribution limit of
  53,000.

8
Solo 401k Employer Contributions

• To maximum of 53,000 up to 20 employer
  contributions allowed for self-employed. This
  limit also applied to salary deferral
  contributions.

9
Solo 401k Rollover
Just like the traditional 401k plan, solo plan
also allows rollovers and transfers from
traditional IRA, SEP and Qualified Plans,
governmental 457 plans, 401k and 403b. SIMPLE
IRAs are allowed in solo 401k on a condition
of two years holding period.
10
Solo 401k Loans

• Loans are available to all participants including
  traditional 401k and individual 401k. Loans are
  also available for unincorporated business owners.

11
Solo 401k Government Reporting

• IRS 5500-EZ.

12
Getting Access To Money

• Until a participant reach age 59.5, the money
  must be kept invested in the retirement account.
  Withdrawals before 59 are subject to income tax
  with additional 10 early withdrawal penalty.

13
A Complete Portal For Solo 401k

• Learn everything you need to know about the most
  popular retirement saving plan 401k and solo
  401k without having to pay a single penny out of
  your exertion earned retirement money.
• All you have to do is visit Dear 401k J and post
  your everyday retirement, 401k, investment, and
  other money questions, and get answers and
  professional advice from certified financial
  advisors in California.
• Visit www.Dear401kJ.com now and learn more about
  the best 401k retirement planning platform in
  California.