Solo 401k FAQs

You've got questions, we've got answers! Read on to learn the answers to the most frequently asked questions about the Solo 401k plan.

  • What is the Solo 401k? The Solo 401k is a special type of retirement plan for business owners (and their spouses). In many ways, the Solo 401k functions like a corporate 401k plan but allows you greater freedom to invest in what you want, and contribute on your own schedule because you are your own 401k plan administrator and trustee.
  • What do I need to qualify for a Solo 401k? There are two elements needed to qualify for a Solo 401k: 1) The presence of self-employment business activity and 2) the absence of full-time employees. Please see our page on Solo 401k qualification for more information
  • How long does it take Nabers Group to set up the Solo 401k? The application will only take you about 10 minutes. After you submit your application to us, we'll have your documents prepared and delivered to your private encrypted...
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How to Rollover Real Estate from the Self-Directed IRA to the Solo 401k

Rolling over from a self-directed IRA  to the Solo 401k is a fairly straightforward process, but you'll  want to work with your current IRA custodian to ensure the process goes smoothly.

Each custodian's process varies slightly. We've included some best practices recommended from well-known custodians below:

Way #1: Initiate transfer/distribution from IRA custodian

  1. Contact your IRA custodian and request a distribution form (make sure you let the custodian know you are doing an "in-kind transfer" to  Qualified Retirement Plan so it's not a taxable distribution). Complete and return the distribution form to the IRA custodian.
  2. Complete a fair market valuation form. Usually your IRA custodian will have this form readily available for you. Typically, the custodian will request a full appraisal of the property. Often, you may select a property appraiser of your choosing. The IRA custodian wants this valuation so they can correctly complete 1099-R (documenting the rollover)...
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What Can the Solo 401k Invest In?

Total Freedom

As the pioneers of checkbook control, we paved the path for “bureaucracy-free” self-directed investing. Governed by a special section of tax code, the Unlimited® Solo 401k enables you to be your own custodian legally. Sacrifice nothing, compromise nothing, and gain the fast-mover advantage required of all successful investors.

Unlike other self-directed account platforms you get Unlimited® sub-accounts with us. Say goodbye to multiple sets of forms, fees, reports, and paperwork. Our Solo 401k Unlimited® platform is the first of its kind and brings simplicity to self-directed investing into bitcoin and other cryptocurrencies, real estate, gold, any many other alternative investments.

Bitcoin and other cryptocurrencies

With the recent rise of bitcoin and other cryptocurrencies, it seems “experts” have been crawling out from under rocks left and right.

We’ve been investing in bitcoin since April 2013.

We’re the most...

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Reminder: FBAR and 8938 filings are due!

If you have any offshore assets, you may be required to file the annual Report of Foreign Bank and Financial Accounts (FBAR), also known as the FinCen Form 114. 


The FBAR is due by April 17th, 2018. 

Even if you closed your offshore accounts last year, if at any point during the previous calendar year your account(s) value was over $10,000 - you should file the FBAR by April 17th.

Please find helpful guidance from the IRS below:

 
As stated on the IRS website, there is an automatic six-month extension granted to the filing deadline. Specific requests for this extension are not required. (Source)

Please note that each (offshore) account must be listed on your FBAR, e.g. Solo401k trust, personal funds, IRA LLC, family trust, etc., that each account will need to be listed on the FBAR filing.

As reiterated by the Financial Crimes Enforcement Network (FinCen - those who are responsible for collection of the FBAR):

Accordingly, the due date for FBAR filings for foreign...

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Real Estate Deal Flow in the Solo 401k

Go beyond publicly available REITs and access investment properties directly. You can invest your IRA and 401k funds into houses, condos, land, mortgage notes, and more! Let the gains, rents, any all profits go back into your Solo 401k without taxation. The Solo 401k by Nabers Group gives you the freedom to invest in virtually any real estate deal, whether it be a rental home, a bargain at the foreclosure auction, or a syndicated “insider” real estate development.

The Solo 401k Advantage vs. SDIRA

Avoid the costly “Self-Directed IRA” real estate tax. Many self-directed investors get taxed twice and it eats up most of their profits. Self-Directed IRA custodian accounts and IRA LLC accounts are not designed to be invested in real estate using mortgage financing for leverage and thus are aggressively taxed at the highest rates in the tax code. The Solo 401k solves this because it is exempt from those taxes and that makes it the perfect real estate...

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Nabers Group Solo 401k Reviews

blog solo 401k testimonials Mar 13, 2018

Nabers Group was the very first non-custodial document provider in the industry. We've been setting up Solo 401k plans for happy clients for over a decade and have led the industry ever since. 

As fellow Solo 401k accountholders, we believe your success is our success and we're here to support you every step of the way.

Hear directly from some of our clients!

 

Would you like to share your Nabers Group Solo 401k success story? We'd love to hear from you.

Share my Nabers Group Solo 401k Review

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How to Document an Indirect Rollover to Your Solo 401k Plan

If you've chosen to do an indirect rollover to fund your Solo 401k plan, your custodian will have sent the check directly payable to you personally.

You have 60-days from the original date on the check to deposit the funds into a qualified retirement plan structure, such as your Solo 401k.

You will need to document the indirect rollover on your tax return, as the IRS wants to see a paper trail of where your funds went. This also helps the IRS to determine if any taxes are due on your rollover.

Please refer to Form 1040, and input the indirect rollover amount in Box 16a. In Box 16b, you'll note $0 rollover.

Please refer to the IRS instructions for form 1040 form page 25-26 with any questions you or your CPA might have. 

If you've done an indirect rollover, your custodian will send you a form 1099-R documenting the amount that was distributed from your retirement plan. Any deviation from this amount will be a taxable event.

Example:

You receive an indirect rollover...

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How to Refer Someone to Nabers Group

blog Feb 06, 2018

People ask us all the time how they can refer someone to work with Nabers Group. Not only are we proud of our reputation as the industry leader, but we really care about our clients as members of our community.

Many accountholders have been with us a decade or more, and it's been incredible to help sons and daughters of some of our original clients set up Solo 401k or Checkbook IRA LLC plans of their very own.

We've even had two of our Solo 401k accountholders get married to one another over the years! How awesome is that?

We're happy to talk with your friends, family, colleagues or someone you think might benefit from the Nabers Group Solo 401k or the Checkbook IRA LLC (Roth or traditional), but they're not quite ready to sign up yet.

The easiest thing to do is fill out the form below with their contact information.

Think of this form as a way of signing your referral up for a free consultation with someone on our team.

If you input your referrals...

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Infographic: How to Rollover Real Estate from the IRA LLC to the Solo 410k

Making the move from an IRA LLC to a Solo 401k with Nabers Group can be a powerful upgrade for your retirement. But what do you do if you have tangible assets like real estate already owned by the IRA LLC?

Our infographic below will walk you through the steps to re-titling the assets so you can successfully roll over real estate from the IRA LLC to the Solo 401k with Nabers Group:

 

 

Notes: You'll want to specify for your IRA custodian that you're not transferring the LLC into the Solo 401k, but rather transferring the assets held inside the LLC. 

Grant deeds are instruments used to document the transfer of ownership from one party to another. There are generally two parties in a grant deed: the grantor (who's transferring the property), and the grantee (who's receiving the property). You'll usually need to have the grant deed notarized to make it official.

In the case of transferring assets from the IRA LLC to the Solo 401k, the LLC...

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