ForumsSolo 401kSetting up a Solo 401k LLC

Forums Solo 401k Setting up a Solo 401k LLC

  • Setting up a Solo 401k LLC

    1 Reply
  • Top SubjectSolo 401k
    Top ForumsSolo 401k

    David I.
    Top SubjectSolo 401k

    August 9, 2022 at 11:34 am

    You are currently the custodian on my Solo 401K.

    I wish to now open an IRA-LLC and have some questions on properly filling out the IRS EIN form for an IRA-LLC formation, and do you have templates for a compliant operating agreement for an IRA-LLC?

    On the IRS EIN, can this be done on their online application? Or should it be done on the paper form SS-4?
    https://www.irs.gov/pub/irs-pdf/fss4.pdf

    I’m unsure of what the ‘type of entity” should be selected (section 9a) and reason for applying (section 10), as well as box 16 (principal type of business) and if I should designate myself as 3rd party entity and if that address and phone can be the same as the address and phone from the LLC Entity name in box 1-6).

    Additionally, do you offer a template operating agreement for an IRA-LLC?

    David I.
  • George Blower

    Top SubjectSolo 401k,Solo 401k Contributions
    Top ForumsSolo 401k, Solo 401k Contributions

    George Blower

    George Blower

    Top SubjectSolo 401k,Solo 401k Contributions

    August 9, 2022 at 11:38 am

    First, please note that it is not necessary to have an LLC in order to have checkbook control for one’s Solo 401k. In fact, we automatically prepare the paperwork to open accounts with checkbook control for our Solo 401k clients as part of the establishment process.

    That said, it is acceptable to invest one’s Solo 401k funds via an LLC. Please see the following procedure page with more information: https://www.mysolo401k.net/the-process-of-investing-a-solo-401k-plan-in-a-single-member-llc/

    Moreover, in response to client demand, we help our clients set up an LLC for their Solo 401k including obtaining an EIN for the LLC and preparing a customized operating agreement – see more here: https://www.mysolo401k.net/solo-401k/solo-401k-llc-setup-process-cost/

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