Solo/Owner 401(k) plans are designed for business owners (and their spouses) who do not have any eligible employees who work more than 1000 hours in a plan year. These plans can also be designed for individuals who operate as Sole Proprietors or as companies (e.g. LLC, Partnership, Corporation, or Independent Contractor).
* Please note that this fee will be applied to your setup fee when you sign up. This fee will be waived for clients who are working with a Financial Advisor.
|Explanation of Service||Fee|
|Plan Illustration / Initial Consultation||$99*|
|Initial Setup Fee||$250|
|Additional Services (if applicable)|
|IRS Form 5500-EZ Filing (if applicable)||$149|
|Form 5558 Extension (if applicable)||$99|
|Loan Processing Fee (if applicable)||$149|
|Distribution Processing Fee (if applicable)||$125|
|IRS Form 1099-R Preparation (if applicable)||$125|
|Do you have any employees other than you, your spouse, or your partner?||No||Yes|
|Do you (or your spouse/partner) own any other companies with employees?||No||Yes|
|Does your company currently have an existing qualified retirement plan?||No||Yes|
If all answers are “no”, a Solo/Owner 401(k) is just the plan you are looking for! Please Sign-up for your Solo/Owner 401(k)
If your answer is “yes” to any of the above, then you are not eligible for the Solo/Owner 401(k) plan. Please consider our Safe Harbor Plan