IRS Closed End of Year

Please read carefully: This message contains critical information about your new Solo 401k plan

IMPORTANT: The IRS is closed for the holidays, so you’ll see 11-111111 listed as the trust tax ID number (EIN) on your Solo 401k documents. This is a temporary placeholder.

We’ll obtain your actual Solo 401k tax ID number when the IRS reopens, which is typically in January. Having your plan documents from us is what qualifies you for the current tax year, even with the temporary placeholder EIN.

There are two critical action items for your Solo 401k to be qualified for this tax year:

Download and sign the 401k plan signature pages

Signing these pages brings the Solo 401k officially into existence.

Store the signed pages in a safe place. You can upload a signed copy on your Solo 401k dashboard, but you do not need to submit a copy Nabers Group. You must sign the 401k signature pages to officially bring the 401k into existence for the current tax year.

Complete a contribution form

If contributions are the main objective for establishing the plan, complete a contribution form to make a formal election to contribute. You have until tax day to deposit contributions.

For Sole Proprietors, this means you have until April 15th or October 15th if you file an extension. For most owners of an entity this means you have until March 15th or September 15th if you file an extension.

After you complete the contribution form, store it in a safe place. You can upload the completed form to your Solo 401k dashboard. You may send a copy to your CPA and/or tax advisor. You do not need to send anything to Nabers Group.

According to the IRS, formally electing your contributions should be done by December 31st, but you have until you file your tax return to deposit funds. Please refer to IRS publication 560, and view the chart on page 3. The Solo 401k is a “defined contribution” plan.

Once we obtain your Solo 401k trust tax ID number in the first week of January, you can proceed to open a bank or brokerage account.

14362 N Frank Lloyd Wright Blvd, Suite 1000
Scottsdale, AZ 85260