
Solo 401 (k)
The ideal retirement strategy for self-employed individuals or small business owners without full-time employees.
What is a Solo 401(k)?
A Solo 401(k), also referred to as a one-participant 401(k), is a retirement plan tailored for self-employed individuals. It operates similarly to an employer-sponsored plan but offers enhanced flexibility. To qualify for this plan, you must meet two conditions: engagement in self-employment and having no full-time employees. With a Solo 401(k), you have the option to contribute both as an employee and as an employer.
A Solo 401(k) may be right for me if...
- I am an owner of an unincorporated business that employs only me or me and my spouse
- I am a partner in a partnership that employs only partners or partners and their spouses
- I am a sole owner of a corporation (or an LLC taxed as a corporation) that employs only me or me and my spouse
- One of the statements above is true and my business has part-time employees, but none of them have ever worked 1,000 hours in a 12-month period starting with their date of employment

Benefits of A Solo 401 (k)
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