Establishing a Solo 401K Plan – What You Need to Know

January 13th, 2012

Not everyone can assist you in establishing a Solo 401(k) Plan.  Like all legal matters, an attorney or tax professional should be involved in the establishment of a solo 401K qualified retirement plan.  – don’t trust a cookie cutter retirement plan that won’t fit your retirement, investment, and tax goals.  Work directly with tax professionals that specialize in establishing IRS compliant and customized Individual 401K Plans.  The Individual 401K Plan, also called a Solo 401K or Self Directed 401K Plan, is a qualified retirement plan that offers a self employed business owner the ability to make high contributions (up to $55,500) as well as use his or her retirement funds to make almost any type of investment, including real estate, tax liens, private businesses, precious metals, and foreign currency on their own without requiring custodian consent tax-free! In addition, an Individual Plan will allow a plan participant borrow up to $50,000 for any purpose.

Don’t trust a marketing company to establish your IRS based Solo 401(k) qualified retirement plan.  It is crucial to work with a tax attorney or tax professional to establish your IRS compliant solo 401K Plan.  Because the Solo 401K Plan is based off the Internal Revenue Code and ERISA Law, it is important to work with a tax professional who has the necessary expertise in the area to establish the retirement plan in compliance with IRS rules. The IRA Financial Group’s in-house tax attorneys have worked at some of the largest law firms in the United States, including White & Case LLP and Dewey & LeBoeuf LLP. Their legal and tax experience is unmatched in the industry and is the reason we are considered the leading facilitator of true “Checkbook Control” Solo 401K Plan structures.

To learn more about the advantages of using the Individual 401K, please contact an Individual 401K Expert at 800-472-0646