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You are here: Home / Self-Employed 401(k)

Self-Employed 401(k)

A Self-Employed 401(k) plan, also known as an Individual 401(k) or Solo 401(k), allows individuals from owner-only businesses and partnerships to save for retirement.

The Self-Employed 401(k) plan is appropriate for a one-person business owner and his or her working spouse. This plan is not appropriate for a business that has, or that plans to add, any non-spouse employees.

Self-Employed 401(k) 
Who it's for
  • Self-employed individual or business owner with no employees other than a spouse
  • Available to sole proprietors, partnerships, C corporations,
    S corporations
Key advantages
  • A 401(k) with potentially higher contribution limits than SEP IRA
Who can contribute
  • Funded by employee deferrals and employer contributions
2019 employee contribution limits
  • Up to $19,000 in salary deferrals; $25,000 if age 50 or older
202- employee contribution limits
  • Up to $19,500 in salary deferrals; $26,000 if age 50 or older
2019 employer contribution limits
  • Employers may contribute up to 25% of compensation up to a maximum of $56,000.
2020 employer contribution limits
  • Employers may contribute up to 25% of compensation up to a maximum of $57,000.
Administrative responsibilities
  • Annual Form 5500 filing after plan assets exceed $250,000
Access to assets
  • Cannot take withdrawals from the plan until a "trigger" event occurs, such as turning age 59½, disability, and/or plan termination
Plan setup deadlines
  • Establish by December 31 (or fiscal year-end).

Next Steps


Open a Self-Employed 401(k)


Transfer a Self-Employed 401(k)

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Contact Us

Forge Trust
PO Box 7080
San Carlos, CA 94070-7080

(800) 248-8447
(605) 385-0050
info@ForgeTrust.com
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IRA Services, Inc., Retirement Planning Service, San Carlos, CA

FORGE TRUST AND FORGE TRUST COMPANY AND THEIR REPRESENTATIVES IS NOT A FIDUCIARY UNDER ERISA AND DO NOT OFFER TAX OR LEGAL ADVICE. DO NOT PROVIDE INVESTMENT ADVICE, DO NOT SELL INVESTMENTS, DO NOT EVALUATE, RECOMMEND, OR ENDORSE ANY ADVISORY FIRM OR INVESTMENTS. INVESTMENTS ARE NOT FDIC INSURED AND ARE SUBJECT TO RISK, INCLUDING THE LOSS OF PRINCIPAL. CLIENTS ARE ADVISED TO PERFORM OR FACILITATE THEIR OWN DUE DILIGENCE WHEN INVESTING. THE INFORMATION CONTAINED HEREIN DOES NOT CONSTITUTE LEGAL OR TAX ADVICE AND SHOULD NOT BE CONSTRUED TO APPLY TO ANY INDIVIDUAL PERSON OR SITUATION. EACH PERSON SHOULD CONSULT WITH HIS OR HER OWN PERSONAL TAX ADVISOR, FINANCIAL PLANNER, ATTORNEY OR ACCOUNTANT WITH RESPECT TO SUCH INDIVIDUAL'S SPECIFIC SITUATION AND SHOULD NOT RELY UPON THIS INFORMATION WITHOUT SUCH CONSULTATION.

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