IRA Financial Group Announces New Solo 401(k) Plan Annual Services to Include Filing of IRS Form 5500-EZ

July 6th, 2017

Solo 401(k) plan clients of the IRA Financial Group to be offered IRS Form 5500-EZ completion services

IRA Financial Group, the leading provider of self-directed IRA and solo 401(k) plans, announces a new service for its annual tax and compliance service for Solo 401(k) plan clients to include the completion of the annual IRS information form – 5500-EZ.

“In light of increased demand from our clients, we have decided to expand our annual tax and compliance service to include the completion of the IRS Form 5500-EZ for no additional fee for Solo 401(k) 5500 plan clients with plan assets exceeding $250,000 for the 2016 taxable year,” stated Jen Martin, a self-directed solo 401(k) plan specialist with the IRA Financial Group. “With more and more solo 401(k) plan clients having plan assets exceeding $250,000, offering 5500-EZ filing services became something we had to do,” stated Adam Bergman, a partner with the IRA Financial Group.

A Solo 401(k), also known as an individual 401(k) or self-employed 401(k) plan was created specifically for sole proprietors, small businesses and independent contractors such as consultants. A Solo 401(k) Plan can be adopted by any business with no employees other than the owner(s). The business can be established as a sole proprietorship, LLC, corporation, or partnership. With a Solo 401(k) plan, there is generally no annual filing requirement unless the solo 401(k) plan participant’s plan assets exceed $250,000 in assets. In such a case, the Solo 401(k) Plan participant will need to file a short information return with the IRS (Form 5500-EZ). The IRS Form 5500-EZ is due on July 31, 2017 for the 2016 taxable year.

For 2017, the Solo 401(k) Plan, offers one the ability to make annual contributions of up to $54,000 ($60,000 for those over the age of 50), borrow up to $50,000, as well as use his or her retirement funds to make almost any type of investment on their own tax-free and penalty free without requiring the consent of any custodian or person.

The IRA Financial Group was founded by a group of top law firm tax and ERISA lawyers who have worked at some of the largest law firms in the United States, such as White & Case LLP, Dewey & LeBoeuf LLP, and Thelen LLP.

To learn more about the IRA Financial Group please visit our website at or call 800-472-0646.

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