Self-Directed 401K Plans

401(k) Rollovers — This Isn’t Rocket Science!

IRS rollover rules can be complicated and confusing.  Confusing especially when you do not do them all of the time.  But, it is a little bit more disappointing when a very large self-directed IRA custodian hangs someone out for 2 months when they can’t figure out what to do.  What even makes this more laughable is that the large self-directed…read more →

Checkbook Control of Your 401(k) — A Different Option?

As you know, wherever you house your 401(k), you most likely are wanting checkbook control of the plan’s funds as Trustee of the plan.  You already have that, but is there a different approach that may be more attractive to you?   Maybe having a separate “checkbook” for each participant account (e.g., Roth, Pre-Tax Elective Deferral Accounts)?  Is there a reason why…read more →

IRS Form 5500-EZ

With the recent pilot program for relief on penalties for late filings of the 5500-EZ (expired June 2, 2015), and with the formal adoption of an on-going program effective after the conclusion of the pilot program, we might as well stay on topic with another 5500-EZ consideration.  And, that is when must the Form 5500-EZ be submitted. What Does the…read more →

IRS Extends Program for Late Filers of 401(k) Plans

You have probably seen a significant number of blogs on this site related to IRS requirements for individual 401(k) plans that must file an annual 5500-EZ.  This requirement is in place due to Fair Market Value (assets in the plan that are valued in excess of $250,000) or as a result of terminating their business (and, therefore, the 401(k) plan).  Hopefully, pe0ple take…read more →

Solo 401(k) Plans — Beware of Common Law Employees

Had a call that I absolutely welcomed receiving today from a client.  The issue he raised can always be re-addressed with Trustees of 401(k) plans….and that is what issues should be considered if you are even thinking of hiring employees to your self-employed business.  Believe it or not, the issue of a business that sponsors a 401(k) plan adding ANY…read more →

“Transfers” of 401(k) Plans

Many of you are familiar with an IRA transfer where you “transfer” assets from one IRA to another IRA.   IRA transfers can be executed at will by the IRA owner.  But, what about 401(k) plans?  Is there a transfer provision for 401(k) plans or just rollovers? Yes, transfers can occur.  But, let’s use two examples to explain what would be…read more →

401(k) Plans — Final Chance to File IRS Form 5500-EZ

At the outset, individuals with assets of more than $250,000 in a Solo 401(k) plan must annually report the assets of the plan through the IRS 5500-EZ form.  HOWEVER, this post is not intended for those individuals….today. Rather, individuals who have sponsored a Solo 401(k) plan as a sole proprietor or through some other entity (e.g., S-Corp, LLC) and have…read more →

W-9 Forms for 401(k) Plans or 401(k) LLCs

If you have made many investments from your 401(k) plan or your 401(k) LLC, invariably you have had that pesky response for a completed W-9 form.  You know it is not difficult to complete, but we are talking about completing the W-9 for your 401(k) or 401(k) LLC (if you have).  The entity receiving investment funds from your plan and…read more →

IRS Rules for Reporting IRA and 401(k) Rollovers

You have created a self-directed IRA or Solo 401(k) plan and you rolled over funds from other retirement plans (e.g., IRA, 401(k), 457, 403(b)) into your new plan.  You are now happy and content that you have a self-directed plan, and are on your way to making investments into non-traditional assets (e.g., real estate).  You also know that as manager…read more →

IRS Increases 401(k) Contribution Limits for 2015

Today the IRS announced cost-of-living adjustments to various retirement plans, including 401(k), 403(b), 457, federal government Thrift Saving and IRA plans.  While the intent of this post is not to regurgitate the news, it should be noted that IRA limitations were unchanged.  However, for those of you who participate in a 401(k) plan or self-directed Solo 401(k) plan, you should…read more →