IRS Form 5500-EZ

Terminating Your Self-Administered Solo-K Plan

As I have said before, there comes a time for most where it is time to give your solo-k (also referred to as a self-directed 401(k), self-administered 401(k), uni-k, or individual 401(k) plan) a proper send-off.  In simple terms, how does one go about terminating your self-administered Solo-K plan. For many, a Solo-K plan is almost like a human life….read more →

Terminating Your Solo-K Plan

Terminating Your Solo-K Plan

The IRS states that 401(k) plans are created with the intent of continuing  in perpetuity; however, for the self-employed person with the individual 401(k) plan, terminating your Solo-K plan is not, per se, an “if”, rather a “when.”  As the Trustee of your Solo 401(k) plan, you fully understand this.   Therefore, it is incumbent upon you to understand that…read more →

IRS Form 5500-EZ — One Participant Plans

For those of you with self-directed 401(k) plans, the IRS Form 5500-EZ may or may not apply to you.  Whether or not you have to file the 5500-EZ for your Solo-K plan is based on whether the value of the plan’s assets exceed $250,000.    It is important to note that while many people believe the 5500-EZ is only for…read more →