A Solo 401(k) can incorporate the tax benefits of a Traditional IRA (tax-deferred contributions) and/or a Roth IRA (tax-free distributions) depending on the plan document. You may name yourself as trustee of your Solo 401(k) to garner "checkbook control" of your self-directed retirement funds, meaning you'll have the flexibility to fund investments yourself.
As your company's sole proprietor and operator, you can make employee and employer contributions to yield tax benefits for yourself and for your business. You may continue to make contributions as long as you're still employed, even after you reach age 72.
Owners/operators of limited liability companies (LLCs), sole proprietorships, partnerships, or incorporated businesses such as "S-Corps" are eligible to hold and contribute to Solo 401(k)s.
At New Direction Trust Company, you may lease our plan document, utilize our record-keeping services for an existing plan document, or both.
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Investor's Guide to Solo 401(k)s
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Solo 401(k) Investing in Alternative Assets
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