The plan is yours. Anytime you see an instance with our name, what that’s referring to is our document system. You chose our document setup for the solo 401k.

It is possible to craft up your own 401k yourself or with an attorney. The fee is usually $20,000-$50,000.

Then after paying $50,000 to an attorney, the attorney needs to submit the plan to the IRS and ask for the plan to be approved under all laws and regulations.

Then the IRS will take usually several years, sometimes more than several years to reply to give you an opinion letter or not, so that if you roll money into it, you get to continue deferring taxes.

What we do is have our 401k documents that are created and registered specifically with the IRS with what’s called a “prototype document,” which basically means that we submitted our document for review by the IRS years ago, and the IRS gave us an opinion letter saying that the prototype document does create a qualified 401k plan, and anyone using the plan has to register a serial number for it that ties it into the document to use it with this pre-approved plan.

You’ll notice when you got your plan documents, you got an IRS opinion letter. You’re covered by that and that’s why you see the Nabers name in the documents.

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