ForumsSolo 401kSolo 401k account and dissolved llc

Forums Solo 401k Solo 401k account and dissolved llc

  • Solo 401k account and dissolved llc

    George Blower replied 2 months ago 2 Members · 2 Posts
  • 1 Reply
  • Top SubjectSolo 401k Loan,Solo 401k
    Top ForumsSolo 401k Loan, Solo 401k

    Marco H.
    Top SubjectSolo 401k Loan,Solo 401k

    November 19, 2022 at 6:28 pm

    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.
  • George Blower

    Top SubjectSolo 401k,Daily Live Webinar
    Top ForumsSolo 401k, Daily Live Webinar

    George Blower

    George Blower

    Top SubjectSolo 401k,Daily Live Webinar

    November 21, 2022 at 5:16 am

    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).

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