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  • Solo 401(k) loan date

    1 Reply
  • Top SubjectSolo 401k Loan,Solo 401k
    Top ForumsSolo 401k Loan, Solo 401k

    Laura S
    Top SubjectSolo 401k Loan,Solo 401k

    July 27, 2022 at 6:57 pm

    Hi!

    I have a question about question 4 when requesting 401(k) loan documents:

    4. Date of loan which will be reflected on amortization schedule:

    How do I determine the date? If it’s the date when I’ll write myself a check from the correct sub-account after receiving and signing the loan documents, I won’t have a way of knowing when MySolo401k will be finished with the documents. Should I pick a date, say a week in the future, and then if the docs are complete sooner than that, I’ll need to wait until the chosen date to write and cash the loan proceeds check? What is the usual process of setting a date that will be accurate and how important is it to write the check on that exact date?

    Laura S
  • George Blower

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

    George Blower

    George Blower

    Top SubjectSolo 401k,Solo 401k Contributions

    July 29, 2022 at 6:42 am

    Please use a date as early as the next business day.

    Please note that funds can’t withdrawn from the Solo 401k account earlier than such date.

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