🔄 Solo 401k Just for IRA Rollovers? Not Without Self-Employment

[Mark Nolan]

Question: I’m not self-employed, but I want a Solo 401k to consolidate old retirement accounts and clear out pre-tax IRA money for a backdoor Roth IRA. Is that allowed?

Answer: Self-employment is required both to open a Solo 401k and to keep it. Someone without self-employment activity cannot use a Solo 401k to roll over IRAs or former employer plans, or to isolate pre-tax IRA funds for a backdoor Roth IRA. Once a person qualifies, rollovers have no minimum and do not reduce annual contribution limits. Annual contributions are also optional.

mysolo401k.net

Solo 401k Eligibility - My Solo 401k Financial

My Solo 401k Financial offers self-directed Solo 401k, IRA LLC & ROBS 401K Retirement Plans. Learn about Solo 401k Eligibility

Mark Nolan

Compliance Officer

Contact

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