As part of the 401k solo opening process, you must choose the primary and conditional beneficiaries of your 401k solo. A My Solo 401k financial compliance professional is always available to explain the beneficiary`s rules. Just because you want to move some of your salary into a Roth doesn`t mean the plan is necessary to offer a particular Roth account. Not all plans allow, for example, Roth Solo 401k contributions or voluntary contributions to the tax. Also, not all 401k solo plans allow for equity loans or investments in alternative investments. The trust agreement incorporated into the basic plan documents defines the responsibilities and obligations of the agent. My Solo 401k Financial Compliance Officer will verify the trust agreement with you in order to answer any current and ongoing questions you may have. Contact My Solo 401k Financial at 1-800-489-7571 for a free consultation or, if you are ready to proceed, visit our registration page by clicking on Open Solo 401k. Once we have received the necessary information, we will install Solo 401k in 24 hours. Summarizes the important features of the planning document, including your benefits and commitments as part of the plan. My Solo 401k Financial Compliance Officer will check with you the Summary Plan Description document so that you fully understand all the provisions of the Solo 401k plan. The basic plan document is the prototyping and trust document that sets out the rules of the Solo 401k plan, including the types of investments solo 401k can be invested in, 401k solo loan rules, distribution rules, and more. Integrated into the basic plan document, you have access to the participant loan of your Solo 401k plan.
The minimum loan amount is $US 1,000 and the maximum is 50% of the value of the 401k solo account so as not to exceed $US 50,000. A My Solo 401k financial compliance professional explains the rules for the Solo 401k equity loan. I found your contact information on your site. I have a 401 K solo with Merrill Lynch. They do not have a plan document to attach to 401(K). Is it necessary to have a planning document in order to use the tax demarcation assessments? Below is the list of SOLO 401k plan documents and IRS approved Solo 401k loan documents, Created by My solo 401k Financial If you are ready to open solo 401k with checkbook control, which allows you to invest in alternative investments such as real estate, precious metals (gold, silver), tax instructions, Fiduciary documents (notes) and borrow from the Solo 401k at all costs through a 401k solo participatory loan, My Solo 401k Financial takes care of the 401k solo creation process from start to finish. Document describing the administrative provisions of the plan, including the designation as agent of the plan. My Solo 401k Financial Compliance Officer will check the summary description of the plan with you in order to answer any questions you may have. This letter is issued by the National Office of the IRS and indicates that it is a prototype plan that meets the requirements of a qualified plan. My Solo401k Financial provides all new clients with a copy of the IRS determination letter….