Search found 39 matches

by ATLCPA
Thu Feb 20, 2020 7:30 am
Forum: Personal Investments
Topic: Fidelity BrokerageLink 401k changes to ZERO funds and SCV
Replies: 15
Views: 1158

Re: Fidelity BrokerageLink 401k changes to ZERO funds and SCV

Update: Got this all set up the way i wasn’t but the fidelity rep mentioned that the zero funds are only available in retail accounts not brokeragelink. Is this true? I bought the following instead. FSPSX FSKAX Yes, I've encountered similar when speaking with Fidelity. When Fido says "you can inves...
by ATLCPA
Tue Feb 18, 2020 6:24 pm
Forum: Personal Investments
Topic: Solo 401k at Vanguard not allowing rolling in IRA
Replies: 75
Views: 2843

Re: Solo 401k at Vanguard not allowing rolling in IRA

Just called Fido. Here's the language from the adoption agreement there: 6. RELIANCE ON OPINION LETTER This is a “standardized” prototype plan. You may rely on the opinion letter issued by the Internal Revenue Service as evidence that your Plan is qualified under section 401 of the Internal Revenue ...
by ATLCPA
Mon Feb 17, 2020 5:24 pm
Forum: Personal Investments
Topic: Solo 401k at Vanguard not allowing rolling in IRA
Replies: 75
Views: 2843

Re: Solo 401k at Vanguard not allowing rolling in IRA

I leave this final thought to other forum members reading this thread. If I am wrong and you follow my advice, it is at worst a minor inconvenience. If @ATLCPA is wrong and you follow their advice, you have engaged in a serious 401k plan error. You will have to use the IRS Employee Plans Compliance...
by ATLCPA
Mon Feb 17, 2020 4:37 pm
Forum: Personal Investments
Topic: Solo 401k at Vanguard not allowing rolling in IRA
Replies: 75
Views: 2843

Re: Solo 401k at Vanguard not allowing rolling in IRA

A CPA of all people should understand that not all tax matters are codified, covered in regulations or guidance. They know very well that there are many circumstances based on inference. Especially, when you are talking about operational considerations. Well, here's what I believe after thinking ab...
by ATLCPA
Mon Feb 17, 2020 2:57 pm
Forum: Personal Investments
Topic: Solo 401k at Vanguard not allowing rolling in IRA
Replies: 75
Views: 2843

Re: Solo 401k at Vanguard not allowing rolling in IRA

I leave this final thought to other forum members reading this thread. If I am wrong and you follow my advice, it is at worst a minor inconvenience. If @ATLCPA is wrong and you follow their advice, you have engaged in a serious 401k plan error. You will have to use the IRS Employee Plans Compliance...
by ATLCPA
Mon Feb 17, 2020 2:17 pm
Forum: Personal Investments
Topic: Solo 401k at Vanguard not allowing rolling in IRA
Replies: 75
Views: 2843

Re: Solo 401k at Vanguard not allowing rolling in IRA

You can keep it open but all accounts have to be together with the same provider. The 250k threshold is on total assets, not per SSN. I'm not sure how this supports your case. From my understanding the blogpost author was telling the commenter that she can continue her account with the plan but all...
by ATLCPA
Mon Feb 17, 2020 1:56 pm
Forum: Personal Investments
Topic: Solo 401k at Vanguard not allowing rolling in IRA
Replies: 75
Views: 2843

Re: Solo 401k at Vanguard not allowing rolling in IRA

Yes, the one-participant 401k is a plan. The IRS says you can have more than one plan . Open a new plan at Fidelity with a new plan number "002". This is why plan numbers are there. A separate, but allowable plan is now at Fidelity. Tell Fidelity this explicitly that they are plan #002. Let them te...
by ATLCPA
Mon Feb 17, 2020 1:11 pm
Forum: Personal Investments
Topic: Solo 401k at Vanguard not allowing rolling in IRA
Replies: 75
Views: 2843

Re: Solo 401k at Vanguard not allowing rolling in IRA

What plan document provision or term . . . cannot be followed by having two plans? The plan document(s) provide for both elective (employee) and nonelective (employer) contributions. With respect to the nonelective employer contribution, how would one comply with both plans, without making the same...
by ATLCPA
Sun Feb 16, 2020 9:39 pm
Forum: Personal Investments
Topic: Solo 401k at Vanguard not allowing rolling in IRA
Replies: 75
Views: 2843

Re: Solo 401k at Vanguard not allowing rolling in IRA

There is no need for any cite, because it is self-evident. All I am doing is challenging you to be specific. What rule makes have two plans impermissible? What plan document provision or term is harmed or cannot be followed by having two plans? This is where I check out of the conversation as there...
by ATLCPA
Sun Feb 16, 2020 9:28 pm
Forum: Personal Investments
Topic: Solo 401k at Vanguard not allowing rolling in IRA
Replies: 75
Views: 2843

Re: Solo 401k at Vanguard not allowing rolling in IRA

From my understanding of both Spirit Rider's and ATLCPA's dialogue, the answer seems to be: an employer can have multiple 401k plans if the plans cover different [classes] of employee. That would take care of the Plan 001, Plan 002... Is that right? No specific employee can be covered by more than ...
by ATLCPA
Sun Feb 16, 2020 9:20 pm
Forum: Personal Investments
Topic: Solo 401k at Vanguard not allowing rolling in IRA
Replies: 75
Views: 2843

Re: Solo 401k at Vanguard not allowing rolling in IRA

A one-participant plan means a retirement plan (that is, a defined benefit pension plan or a defined contribution profit-sharing or money purchase pension plan), other than an Employee Stock Ownership Plan (ESOP) What you can not do is adopt another one-participant 401k plan for the same business i...
by ATLCPA
Sun Feb 16, 2020 8:57 pm
Forum: Personal Investments
Topic: Solo 401k at Vanguard not allowing rolling in IRA
Replies: 75
Views: 2843

Re: Solo 401k at Vanguard not allowing rolling in IRA

From this, it seems there is stricter rules for solo-401k transfers vs say tIRAs and rollover IRAs. This is entirely consistent with what I have been saying. A one-participant 401k is a plan , not just one or more accounts. You are not moving an account like an IRA, you are moving the 401k plan and...
by ATLCPA
Sun Feb 16, 2020 8:48 pm
Forum: Personal Investments
Topic: Solo 401k at Vanguard not allowing rolling in IRA
Replies: 75
Views: 2843

Re: Solo 401k at Vanguard not allowing rolling in IRA

No, all I am saying is to cite the rule. I think the burden of proof is on you, since you are the one taking the contrarian position to the generally accepted position that "there can only be ONE" -- with apologies to the Highlander movie/TV show -- solo 401k. You did quote some chapter and verse a...
by ATLCPA
Sun Feb 16, 2020 2:29 pm
Forum: Personal Investments
Topic: Solo 401k at Vanguard not allowing rolling in IRA
Replies: 75
Views: 2843

Re: Solo 401k at Vanguard not allowing rolling in IRA

IRC 401(k)(3)(A) Application of participation and discrimination standards If 2 or more plans which include cash or deferred arrangements are considered as 1 plan for purposes of section 401(a)(4) or 410(b), the cash or deferred arrangements included in such plans shall be treated as 1 arrangement ...
by ATLCPA
Sun Feb 16, 2020 1:54 pm
Forum: Personal Investments
Topic: Solo 401k at Vanguard not allowing rolling in IRA
Replies: 75
Views: 2843

Re: Solo 401k at Vanguard not allowing rolling in IRA

IRC 401(k)(3)(A) Application of participation and discrimination standards If 2 or more plans which include cash or deferred arrangements are considered as 1 plan for purposes of section 401(a)(4) or 410(b), the cash or deferred arrangements included in such plans shall be treated as 1 arrangement ...
by ATLCPA
Sun Feb 16, 2020 12:44 pm
Forum: Personal Investments
Topic: Solo 401k at Vanguard not allowing rolling in IRA
Replies: 75
Views: 2843

Re: Solo 401k at Vanguard not allowing rolling in IRA

Spirit Rider wrote:
Sun Feb 16, 2020 11:20 am

Bottom line: This subsection does not alter the requirement that there can not be...
Can you please quote where this requirement is codified? Thanks!!!!
by ATLCPA
Sat Feb 15, 2020 10:29 pm
Forum: Personal Investments
Topic: Solo 401k at Vanguard not allowing rolling in IRA
Replies: 75
Views: 2843

Re: Solo 401k at Vanguard not allowing rolling in IRA

The rules for applying the $250k threshold delineated on form 5500. See links above to the IRS form, which literally presents an illustrative example of what “Spirit Rider” says is impossible. A few posts ago it was also impossible for employers to sponsor more than 1 plan, which is also of course ...
by ATLCPA
Sat Feb 15, 2020 9:45 pm
Forum: Personal Investments
Topic: Solo 401k at Vanguard not allowing rolling in IRA
Replies: 75
Views: 2843

Re: Solo 401k at Vanguard not allowing rolling in IRA

jacoavlu wrote:
Sat Feb 15, 2020 7:23 pm

Here’s to hoping Spirit Rider will chime in.
crystalbank wrote:
Sat Feb 15, 2020 8:35 pm

I'll let Spirit Rider chime-in
You two seem to be related.
by ATLCPA
Sat Feb 15, 2020 9:40 pm
Forum: Personal Investments
Topic: Solo 401k at Vanguard not allowing rolling in IRA
Replies: 75
Views: 2843

Re: Solo 401k at Vanguard not allowing rolling in IRA

I know that sometimes in professional service partnerships or Corps each member or shareholder will use a solo 401k for his or her portion of the plan, which is ultimately established by the employer. So that is a scenario where the instructions you reference from 5500 instructions may be applicabl...
by ATLCPA
Sat Feb 15, 2020 9:26 pm
Forum: Personal Investments
Topic: Solo 401k at Vanguard not allowing rolling in IRA
Replies: 75
Views: 2843

Re: Solo 401k at Vanguard not allowing rolling in IRA

Plus, if it was “prohibited” have two plans at the same time, then moving assets from i401(k) to i401(k) would be programmatic since both would presumably have to open for some frame of time. In fact, since VG does not allow rollovers into i401(k) plans from IRAs or employer plans, that maybe be an...
by ATLCPA
Sat Feb 15, 2020 7:56 pm
Forum: Personal Investments
Topic: Solo 401k at Vanguard not allowing rolling in IRA
Replies: 75
Views: 2843

Re: Solo 401k at Vanguard not allowing rolling in IRA

I know that sometimes in professional service partnerships or Corps each member or shareholder will use a solo 401k for his or her portion of the plan, which is ultimately established by the employer. So that is a scenario where the instructions you reference from 5500 instructions may be applicabl...
by ATLCPA
Sat Feb 15, 2020 7:47 pm
Forum: Personal Investments
Topic: Solo 401k at Vanguard not allowing rolling in IRA
Replies: 75
Views: 2843

Re: Solo 401k at Vanguard not allowing rolling in IRA

I know that sometimes in professional service partnerships or Corps each member or shareholder will use a solo 401k for his or her portion of the plan, which is ultimately established by the employer. So that is a scenario where the instructions you reference from 5500 instructions may be applicabl...
by ATLCPA
Sat Feb 15, 2020 7:42 pm
Forum: Personal Investments
Topic: Solo 401k at Vanguard not allowing rolling in IRA
Replies: 75
Views: 2843

Re: Solo 401k at Vanguard not allowing rolling in IRA

I at least found this https://www.bogleheads.org/forum/viewtopic.php?f=2&t=279354#p4506695 A single business can not have more than a single one-participant 401k plan at the same time. Nothing is cited other than his statement. Best to be careful with giving advice based on such things. Kind Regards,
by ATLCPA
Sat Feb 15, 2020 6:57 pm
Forum: Personal Investments
Topic: Solo 401k at Vanguard not allowing rolling in IRA
Replies: 75
Views: 2843

Re: Solo 401k at Vanguard not allowing rolling in IRA

That Vanguard does not allow incoming rollovers to Solo 401k is well known, and been discussed on these forums for at least as long as I have been a member (8 years). We can’t really comment on why Vanguard does that, but really, the best platform for Solo 401k is E*Trade. It allows incoming rollov...
by ATLCPA
Sat Feb 15, 2020 6:27 pm
Forum: Personal Investments
Topic: Solo 401k at Vanguard not allowing rolling in IRA
Replies: 75
Views: 2843

Re: Solo 401k at Vanguard not allowing rolling in IRA

That Vanguard does not allow incoming rollovers to Solo 401k is well known, and been discussed on these forums for at least as long as I have been a member (8 years). We can’t really comment on why Vanguard does that, but really, the best platform for Solo 401k is E*Trade. It allows incoming rollov...
by ATLCPA
Thu Mar 14, 2019 11:35 am
Forum: Personal Finance (Not Investing)
Topic: Solo 401k or any other tax deferred in this case possible ?
Replies: 6
Views: 431

Re: Solo 401k or any other tax deferred in this case possible ?

Ask the community college if it's possible they pay you via 1099 instead of W-2 in future periods.

Kind Regards,
by ATLCPA
Sat Sep 15, 2018 7:04 am
Forum: Personal Finance (Not Investing)
Topic: Mega Backdoor Roth Mechanics
Replies: 44
Views: 6764

Re: Mega Backdoor Roth Mechanics

Although it isn't intuitively obvious, Fidelity maintains a separate "account" in your 401k for just the after-tax contributions. For example, suppose you have $100K in your 401k which is made up of pretax contributions and their earnings. You recently started after-tax contributions and let them b...
by ATLCPA
Thu Sep 13, 2018 11:08 pm
Forum: Personal Finance (Not Investing)
Topic: Mega Backdoor Roth Mechanics
Replies: 44
Views: 6764

Re: Mega Backdoor Roth Mechanics

Although it isn't intuitively obvious, Fidelity maintains a separate "account" in your 401k for just the after-tax contributions. For example, suppose you have $100K in your 401k which is made up of pretax contributions and their earnings. You recently started after-tax contributions and let them b...
by ATLCPA
Tue May 30, 2017 3:25 pm
Forum: Personal Consumer Issues
Topic: MBA in EU...worth it?
Replies: 15
Views: 2010

Re: MBA in EU...worth it?

One of my good friends got his MBA from the London School of Business (Top 5 globally ranked everywhere) and when he came back to the US it just doesn't have the name recognition. Assuming your'e not going there, you definitely won't have any name recognition with your EU school. I would probably p...
by ATLCPA
Wed Apr 19, 2017 12:07 pm
Forum: Non-US Investing
Topic: Invest in foreign ETFs (€)
Replies: 6
Views: 897

Re: Invest in foreign ETFs (€)

Check into Interactive Brokers...

Kind Regards,
by ATLCPA
Sun Dec 11, 2016 2:54 am
Forum: Investing - Theory, News & General
Topic: Why is the turnover of Vanguard Total World Stock Market Index fund so high?
Replies: 9
Views: 2378

Re: Why is the turnover of Vanguard Total World Stock Market Index fund so high?

I wouldn't worry about this much. As the AUM of the fund continues to grow, the # of holdings will continue to grow to match the index. Vanguard samples up as the fund builds. Same with the ER. Vanguard has a history of lowering ER as the AUM of the fund gets larger. I remember when the mutual fund ...
by ATLCPA
Wed Dec 07, 2016 5:51 pm
Forum: Personal Investments
Topic: Moving an IRA to another brokerage
Replies: 16
Views: 2289

Re: Moving an IRA to another brokerage

Interactive Brokers charges a quarterly fee for IRAs.

Kind Regards,
by ATLCPA
Wed Dec 07, 2016 5:46 pm
Forum: Personal Consumer Issues
Topic: MBA Folks - Question About the App Process
Replies: 11
Views: 1392

Re: MBA Folks - Question About the App Process

I think you have to start by calling School A. Either get them to extend or agree to make the deposit refundable. If that fails, then just make the best decision you can. I went to top 10 public school for business and top 20 overall private school for law. I found the administration at both willing...
by ATLCPA
Sun Nov 20, 2016 8:39 pm
Forum: Personal Investments
Topic: LLC Partnership Retirement Investing questions
Replies: 2
Views: 575

Re: LLC Partnership Retirement Investing questions

I am a part owner of a LLC partnership that is taxed as an S Corp. I have maxed my Roth IRA(VTIVX) the last couple of years but now I want to start putting away more. I know there is Solo 401k and other options out there for me but I have one problem. The partner in this business doesn't want open ...
by ATLCPA
Tue Oct 11, 2016 7:42 pm
Forum: Personal Investments
Topic: What should I do? Charles Schwab Roth Contributory IRA
Replies: 7
Views: 1797

Re: What should I do? Charles Schwab Roth Contributory IRA

This is a slam dunk... do the Schwab Target Date INDEX Fund nearest to your retirement date!
by ATLCPA
Sat Oct 08, 2016 8:21 pm
Forum: Personal Investments
Topic: Moving 401k to IRA
Replies: 16
Views: 1614

Re: Moving 401k to IRA

Another drawback relates to potential impact to future backdoor Roth IRA conversions. If you think you may want to do such conversions in the future, it's best keep assets out of a traditional IRA because of the pro rata rules.
by ATLCPA
Thu Oct 06, 2016 7:49 pm
Forum: Personal Investments
Topic: Fidelity or Vanguard
Replies: 93
Views: 13514

Re: Fidelity or Vanguard

mervinj7 wrote: For international, the Fidelity fund to use is FSGDX (Spartan Global ex-US). ER is 0.12% and includes emerging markets and Canadian maple products.
Any Canadian bacon in there? :confused
by ATLCPA
Tue Oct 04, 2016 9:57 pm
Forum: Personal Investments
Topic: How to rebalance, with ETFs
Replies: 15
Views: 1612

Re: How to rebalance, with ETFs

Why not just use the Fido equivalent of Admiral? Have a couple of sectors, they do not have an Fidelity Index nor Spartan equivalent ( Spartan has a new name ?) Vanguard Consumer Staples ETF (VDC) Vanguard Consumer Discretionary ETF (VCR) I see. Just a heads-up: I think they have free commission ET...
by ATLCPA
Tue Oct 04, 2016 7:49 pm
Forum: Personal Investments
Topic: How to rebalance, with ETFs
Replies: 15
Views: 1612

Re: How to rebalance, with ETFs

How to rebalance, with ETFs Plan to sell one ETF, pick the order type, let the money settle and have another order to buy another ETF, have a limit order and wait to be filled. Is there some automated process, to ease the pain ? I don't think you have to let the money settle; you can use brokerage ...