Solo 401k plan name

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numberman
Posts: 41
Joined: Wed Sep 23, 2015 3:42 pm

Solo 401k plan name

Post by numberman »

tldr: I'm not sure what the Plan Name is for my solo 401k. Does it matter?

I am self-employed (sole proprietorship), and several years ago I setup a Solo 401k at TD Ameritrade. This year is the first time I need to submit a 5500-EZ for the plan, and I've realized I don't seem to know a basic piece of information: the plan name. (Or the plan number, but I'm sure that's 001, since this is the only Solo 401k I've ever made.)

I have the forms I originally filled out to create the accounts at TDA, but in the Adoption Agreement, the fields "Name of Plan" and "Plan Sequence Number" are blank. I assume TDA told me that was fine at the time, since I remember going over the form with a rep on the phone and asking questions. I asked TDA if they could tell me what the plan name is, but it sounded like they don't actually track that; they just told me "You can find your full account title which may include your plan name online by navigating to ..."

The account title for the (non-roth) account at TDA is "FIRSTNAME LASTNAME TR FBO FIRSTNAME LASTNAME IND 401K FBO FIRSTNAME LASTNAME TD AMERITRADE CLEARING CUSTODIAN". So I could guess that the plan name is most likely "FIRSTNAME LASTNAME IND 401K", but is this something I should not be guessing at?

My impression is that TDA doesn't file anything Solo-401k-related with the IRS, so they don't know or care what the plan name is, since it's up to me to file the 5500-EZ myself. So practically speaking it doesn't even matter what I told them what the plan name is; what matters is what goes in the 5500-EZ's that I file. Is that right?

Using the 5500search tool, I can see several 401k plans that seem clearly wrong, where someone just copied the entire TDA account title (they end with "FBO NAME TD AMERITRADE CLEARING CUSTODIAN"). That also leads me to believe it's not uncommon to get confused about details like this, and maybe doesn't matter so much.
theplayer11
Posts: 1537
Joined: Tue Jul 22, 2014 8:55 pm

Re: Solo 401k plan name

Post by theplayer11 »

what do your statements show?
CFM300
Posts: 2076
Joined: Sat Oct 27, 2007 5:13 am

Re: Solo 401k plan name

Post by CFM300 »

To possibly gain additional privacy protection, I changed my 401k plan name (from my personal name to my company's name) and also changed the EIN (from my business EIN to a new EIN just for the plan itself). It's all explained in this thread:

viewtopic.php?t=315096
Topic Author
numberman
Posts: 41
Joined: Wed Sep 23, 2015 3:42 pm

Re: Solo 401k plan name

Post by numberman »

theplayer11 wrote: Mon May 03, 2021 4:32 pm what do your statements show?
The account statements show the title for the account. (FIRSTNAME LASTNAME TR FBO etc etc)
CFM300 wrote: Mon May 03, 2021 5:53 pm To possibly gain additional privacy protection, I changed my 401k plan name (from my personal name to my company's name) and also changed the EIN (from my business EIN to a new EIN just for the plan itself). It's all explained in this thread:

viewtopic.php?t=315096
Yeah, but you need the old/original plan name to change it, right?
CFM300
Posts: 2076
Joined: Sat Oct 27, 2007 5:13 am

Re: Solo 401k plan name

Post by CFM300 »

numberman wrote: Mon May 03, 2021 8:36 pm Yeah, but you need the old/original plan name to change it, right?
When I login to my 401k account online (through Vanguard's Small Biz website), I can navigate to a page showing the "Plan Profile" which lists the plan name, plan type, plan ID, status, address, organization type, plan effective date, number of participants, etc. and etc.

Do you not have a similar page on the TDA site?
Topic Author
numberman
Posts: 41
Joined: Wed Sep 23, 2015 3:42 pm

Re: Solo 401k plan name

Post by numberman »

CFM300 wrote: Mon May 03, 2021 11:51 pm When I login to my 401k account online (through Vanguard's Small Biz website), I can navigate to a page showing the "Plan Profile" which lists the plan name, plan type, plan ID, status, address, organization type, plan effective date, number of participants, etc. and etc.

Do you not have a similar page on the TDA site?
No, not that I can find. I think that doesn't exist; I assume the td ameritrade rep would have told me about it if that existed.

This may be one of the differences between having a "custodian" vs "trustee" for the solo 401k provider, which has been discussed in other various threads. Some providers provide more assistance and administration for solo 401k plans than others, and my impression is td ameritrade has always been on the "lesser" side of the spectrum.
HomeStretch
Posts: 6226
Joined: Thu Dec 27, 2018 3:06 pm

Re: Solo 401k plan name

Post by HomeStretch »

If you did not obtain an EIN, don’t have a plan name on your adoption agreement/statements/online account and the custodian CSR can’t definitively give you the plan name, I can’t think of any other source for the name. So use the one you suggested and be consistent with usage going forward.
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