Leaderboard

Solo 401(k) is a marketing term and not a real thing. Probably the only difference is that some mutual fund/brokerage providers will create a “solo” document that severely restricts the operation of the plan. They also aren’t always good at ensuring the plan document satisfies all the amendment and restatement rules. Whatever it’s called, you have to follow the eligibility, discrimination, and filing rules. Also, you have to follow the long term part time rules. I highly recommend you find a TPA to handle the compliance. It will cost you less to have it done right than it will to have someone fix it later.