💑 Adding a Spouse or Partner to Your Solo 401k

[Mark Nolan]

Question: My partner currently works a full-time job. Can she join my Solo 401k now, or does she have to wait until she leaves her employer?

Answer: A partner’s full-time day job does not affect the Solo 401k. A spouse or partner can be added in one of two roles:

• Co-trustee: signs plan documents such as amendments, distribution requests, and bank or brokerage paperwork. A co-trustee does not need to work in the business.
• Participant: must perform self-employment activity in the same business. A participant can then contribute, roll over IRAs and former employer plans, and take participant loans.

Each participant gets a separate overall contribution limit, because the limit applies per person, not per plan.

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Can a Spouse Have a Solo 401(k)? - My Solo 401k Financial

My Solo 401k Financial offers self-directed Solo 401k, IRA LLC & ROBS 401K Retirement Plans. Learn about Can a Spouse Have a Solo 401(k)?

Mark Nolan

Compliance Officer

Contact

1-800-489-7571 www.mysolo401k.net