When is the deadline to set up and fund a solo 401k? roth solo 401k? I am about ~100k in sole proprietor income and would like to fund the maximum after business deductions. When is the deadline to set up and fund a solo 401k/roth solo 401k, and are the deadlines different between setting up and funding?
Thank you!
When is the deadline to set up and fund a solo 401k? roth solo 401k?
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Re: When is the deadline to set up and fund a solo 401k? roth solo 401k?
The Individual 401(k) Plan must be set up by your business's fiscal year-end, generally December 31. Employer/profit sharing contributions can be made up until your business's tax filing deadline (generally April 15), plus any extensions.
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- Posts: 262
- Joined: Wed Jul 03, 2013 8:05 am
Re: When is the deadline to set up and fund a solo 401k? roth solo 401k?
Thank you!!
So, just to be clear, any and all solo 401k/roth solo 401k contributions can be made after Dec. 31 of this year and up until April 15th right? I just need to set up the account by December 31st? Do you have a link to where I can read this?
Also, do most solo 401k providers require a minimum deposit/maintenance fee or not?
Re: When is the deadline to set up and fund a solo 401k? roth solo 401k?
Yes, that is right. Just do a google search for "deadline for setting up solo 401(k)" and you can read to your heart's content.
We did this for my DH several years ago.
We did this for my DH several years ago.
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Re: When is the deadline to set up and fund a solo 401k? roth solo 401k?
For 2017 set it up by Dec. 31
For funding you have til when you file your taxes - both for the employer and salary deferral if you’re a sole proprietor.
For funding you have til when you file your taxes - both for the employer and salary deferral if you’re a sole proprietor.