solo 401k

[Raj]

Starting to file first form 5500-ez. Line 6a has information information about value of asset in the begin and end of year. My contribution was 20k in 2016 that I deposited in March 2017 for 2016. This is with fidelity solo plan. How will IRS know I actually deposited 20k considering the value of plan(including mutual funds etc) went up by 40K in the year? 

 

 

[RatherBeGolfing]

10 hours ago, Raj said:

Starting to file first form 5500-ez. Line 6a has information information about value of asset in the begin and end of year. My contribution was 20k in 2016 that I deposited in March 2017 for 2016. This is with fidelity solo plan. How will IRS know I actually deposited 20k considering the value of plan(including mutual funds etc) went up by 40K in the year? 

The IRS "knows" because that is what you told them.  Investments are supposed to have earnings, so the fact that the value increased by more than the contribution is nothing out of the ordinary.  

[imchipbrown]

You do not have to file Form 5500-EZ for the 2017 plan
year for a one-participant plan if the total of the plan's
assets and the assets of all other one-participant plans
maintained by the employer at the end of the 2017 plan
year does not exceed $250,000, unless 2017 is the final
plan year of the plan.