BT

Yes. I have the amortization table. Payments are made quarterly. The first payment (principal + interest) was made 6/30/18. P.S. The example in my original question was just for illustration purposes.

When you say "loan balance," do you mean principal only... or principal and interest over the entire life of the loan... or some other amount? Thanks.

For the 2018 Form 5500-EZ: QUESTION RE LINE 6a2 11/30/18 - Solo 401k participant loan taken; $50k; no loan repayments made in 2018. 12/31/18 - Solo 401k total plan assets in brokerage account $340k (390 - 50 = 340). Which amount should be reported on line 6a2… $340k or $390k… which one? QUESTION RE LINE 7a 2/1/19 - Employer contribution for 2018; $3k. Even though the contribution occurred in 2019 (and was for the 2018 year), $3k is reported on line 7a, correct? Yes? No? QUESTION RE LINE 9 The plan had a participant loan during 2018. What amount goes on line 9… outstanding loan principal as of year end… outstanding loan principal plus interest as of year end… some other amount? Thanks for any help you can provide… much appreciated!

Is receivable contribution the same as an outstanding loan?

At the end of the plan year, a sponsor must file a Form 5500-EZ for their plan when the assets of the plan are greater than $250,000. For calculation purposes, I’d like to know what’s included in assets. Assume… at the end of the plan year… a Individual 401(k) has a balance of $240,000 and an outstanding loan of $30,000. For purposes of Form 5500-EZ, are the total assets $240,000… or are the total assets $270,000? Thanks for your help.

Thanks Larry. I appreciate the clarification. Now I'm sure about how to proceed.

At the end of the plan year, a sponsor must file a Form 5500-EZ for each of their one-participant plans when the total combined assets of all one-participant plans the sponsor maintains are greater than $250,000. I’m pretty sure I know that the answer to the following question is “No,” but I’d like to ask it anyway just to be sure. For purposes of calculating the total combined assets, is a SEP IRA included in the calculation?

Assume this Individual 401(k) is the only one-participant plan maintained by the sponsor. If the total assets in the Individual 401(k) exceed $250,000 around the halfway mark (May) of the plan year (Jan-Dec), and then drop below $250,000 at the end of the plan year (Dec 31), does a 5500-EZ have to be filed? Thanks for your help.

Yes, you are correct. I have a SEP IRA... I no longer contribute to it. I have a Individual 401(k)... I expect to contribute to it for tax year 2018.

I opened my SEP IRA in 1994 at Schwab. I was self-employed for a few months in 1994. I made a contribution for tax year 1994. I repeated this in tax year 2000. In 2003 and 2004, I did direct rollovers into my SEP IRA of three 401(k) plans. One each from three large companies I had worked for.Sole proprietorship opened 1/1/18. Individual 401k created at E*Trade in April 2018 for this sole proprietorship. My SEP IRA remains at Schwab. Given this information, what does Appleby's comment mean?

Yes, I am a sole proprietor. The I401k and SEP IRA are managed by different custodians (i.e., brokerage firms). The SEP IRA custodian has investment options that are different than those offered by the I401k custodian. Because of this, I would like to directly-rollover a portion of the assets in the I401k to the SEP IRA. A portion of the assets will remain in the I401k and the plan will continue to operate.

The PSP was sponsored by a different business.

PSP terminated April 2018. PSP assets were directly rolled over to a Individual 401k created April 2018. I401k Summary Plan Description states: "Can I withdraw money from the Plan while I am still employed? You will be able to take certain distributions from the Plan while you are still working for your Employer, as indicated below. In-Service Distributions You may request a distribution of your rollover and transfer contributions at any time." Can I do a direct rollover of a portion of the assets in the I401k to my SEP IRA? Will this trigger the 10% tax penalty? Anything I should be aware of? Thanks for your help.