If you have less than $250,000 in total plan assets (and always have since starting the plan), then there are no tax forms due in the normal course of using your Solo 401k.

Once you reach a level of 401k plan assets totaling $250,000 or more, an information return reporting your 401k value to the IRS is due on form 5500-EZ. Any competent accountant can prepare a form 5500-EZ fairly quickly and easily as it is only 2 pages.

You must file form 5500-EZ if you have $250,000 or more in total plan assets .This includes the total amount of assets.

For example, if you only have $50,000 cash, and you have a property worth $200,000 – your total plan assets are $250,000 and you must file a 5500-EZ.

Nabers Solo 401k accountholders have access to our vetted and trained network of great CPAs, bookkeepers and tax preparers to ensure the Solo 401k reporting is done correctly. If you’d like a recommendation to a stellar tax professional, contact us at [email protected].

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