1 / 7

Solo 401k - Qualified Retirement Plan for Business Owners

Solo 401k is one of the retirement investment plan specially made for business owners with no full time workers in it. Unlike other retirement plans, this plan allows both the employers and employees to make contribution towards their retirement age. It is slightly differ from other 401k retirement plans since this plan does not follow the basic rules of Employee Retirement Income Security Act (ERISA). For more details, visit https://sproutira.com/

neilfarmer77
Download Presentation

Solo 401k - Qualified Retirement Plan for Business Owners

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. SOLO 401K - QUALIFIED RETIREMENT PLAN FOR BUSINESS OWNERS

  2. Contents - Introduction - Solo 401k Retirement Plan - Solo 401k Eligibility - Solo 401k Contribution - Contact US

  3. Introduction Solo 401k is one of the retirement investment plan specially made for business owners with no full time workers in it Unlike other retirement plans, this plan allows both the employers and employees to make contribution towards their retirement age

  4. Solo 401k Retirement Plan It is slightly differ from other 401k retirement plans since this plan does not follow the basic rules of Employee Retirement Income Security Act. Unlike other plans, this plan holders did not need to pay the taxes until they reach their retirement age.

  5. Solo 401k Eligibility Only Americans who has more than or equal to 25 years of old can open a solo 401k account Also business types such as sole proprietorship, corporations can establish a solo 401 account Solo business owners include self- employed individuals, freelancers, business owners and their spouses are eligible to open this account

  6. Solo 401k Contribution The total maximum contribution limit for this plan is 56,000 dollars Elective Deferral - The employee decide the contribution amount. One can make 100 percent of compensation. Non-Elective Contribution - The employer decide the contribution amount. A total of 25 percent compensation can be deferred

  7. Contact US To know more details about Solo 401k Retirement Plan, visit Sprout IRA Email Address support@sproutira.com Phone Number +1 855 608 8424

More Related