Solo 401k account and dissolved llc

[Marco H.]

I am in the process of switching to a w2 employee job and thus will most likely no longer be receiving 1099 income. Because of this I may be dissolving my llc or putting it “dormant” with the state. What does this mean for my solo401k account. Do I have to close it? Roll it over to a employer account ? Please advice.

Thanks,

Marco

Marco H.

Contact

[George Blower]

If a self-employed person who has a Solo 401k completely ceases self-employment activity including shutting down the entity through which the Solo 401k owner operated the self-employed business, the Solo 401k plan sponsored by such business must be wound down including transferring assets to another retirement account (e.g. new employer plan if the plan will accept rollover funds and/or IRA).

George Blower

My Solo 401k Financial

Contact

8004897571 mysolo401k.net