The Self Directed 401K
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September 1st, 2011
The Self Directed 401K plan is an IRS approved 401(k) qualified retirement plan that was designed especially for the self-employed or the small business owner. The Self Directed 401K Plan is an ideal retirement plan for any self-employed individual or small business owner with no employees. The Self Directed 401K Plan can be adopted by any form of business, including a sole proprietor, limited liability company, partnership, S Corporation, and C Corporation.
There are many features of the Self Directed 401K plan that make it so appealing and popular among self employed business owners.
Make High Annual Tax Deductible Contributions: One of the most significant advantages of the Self Directed 401K is that a plan participant can make annual contributions up to $49,000 annually with an additional $5,500 catch up contribution for those over age 50.
Borrow up to $50,000 tax-Free: With an Self Directed 401k Plan, a plan participant may borrow up to $50,000 or 50% of their account value (whichever is less) for any purpose. Note -the loan has to be paid back over a five-year period at least quarterly at a minimum prime interest rate (you have the option of selecting a higher interest rate).
Self-Direct Your Investments: By establishing a Self Directed 401K Plan with checkbook control, as trustee of the Self Directed 401K Plan you can make traditional (stocks, mutual funds, etc) as well as non-traditional investments (real estate, precious metals, tax liens, private businesses, etc) tax free and without requiring the custodian consent. Furthermore, the Self Directed 401K Plan account can be opened at any local bank or credit union. No longer will you be told by a bank that you cannot make IRS approved investments with your retirement funds such as real estate. With the Self Directed 401K Plan, you will have checkbook control over your retirement funds so you can purchase real estate, precious metals, and much more tax-free!
Roth Contributions: The Self Directed 401K plan contains a built in Roth sub-account which can be contributed to without any income restrictions. In addition, the Self Directed 401K Plan allows for in-plan Roth rollovers or conversions.
Easy Administration: The Self Directed 401K Plan is easy to operate. There is generally no annual filing requirement unless your Plan exceeds $250,000 in assets, in which case you will need to file a short information return with the IRS (Form 5500-EZ).
Nonrecourse Financing: With a Self Directed 401K Plan purchase real estate with nonrecourse financing tax-free. This is not the case with a Self Directed IRA.
The Self Directed 401K Plan is an IRS approved plan that was designed specifically for the self-employed. Find out why the Self Directed 401K Plan has become the most popular retirement and investment vehicle for the self-employed.
To learn more about the benefits of the Self Directed 401K Plan with Checkbook Control please contact a 401K Expert at 800-472-0646 or visit www.solo401Kexpert.com
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