The document fee you pay covers your Solo 401(k) plan maintenance and keeps your plan documents fully up to date in the eyes of the IRS. This means that any time an amendment and/or plan restatement is released and required by the IRS, we’ll provide that to you so your documents are always in compliance. We do not provide any documents or reporting to the IRS on your behalf. Any documents and/or annual reporting required by the IRS for your Solo 401(k) must be provided by you as you are the plan administrator and trustee.
Compared to IRAs, Solok 401(k)s are more powerful, provide many more advantages, and are different in how they are created and how they actually work. 401(k)s are created by a completely separate area of the tax code than are IRAs. 401(k)s are administered differently, too.
Solo 401(k) document maintenance fees are much lower than IRA custodian fees, and to make the 401(k) even more of a no-brainer, it eliminates all unnecessary transactional paperwork and delays.
If you’re paying a document maintenance fee, this fee covers all required maintenance in its entirety. In this case, there is never an additional fee to provide any document updates that may be needed in the future to keep your plan up to date and IRS qualified.
You also have free access to our knowledge base to help with most issues, as well as access to our online ticket system for billing and technical support issues.
The knowledge base includes articles that cover many topics related to using and investing your Solo 401(k) plan. These articles can help you become more familiar with such topics and can be incredibly handy in bringing your professional advisors up to speed on your retirement plan.
Here’s what you DON’T get for the monthly maintenance fee:
Interpretations of knowledge base articles
Clarification of content within the knowledge base articles
Examples of how the issues addressed in the knowledge base articles pertain to you and your plan specifically
This is because these are all needs for professional tax and/or legal advice, and the government says you must receive this advice from a CPA and/or attorney. Other levels of service offered may be helpful to you.
If you need further help beyond your document maintenance, we do not provide tax or legal advice, but we do provide a higher level of support through investor mentorship. Our mentorship clients regularly/proactively avoid frustrating, painful problems that waste time and money by operating from a higher level of commitment to their success and receiving a higher level of support.
If you’re interested in doing better with your wealth building than you’ve done all by yourself, contact us at [email protected].