Explaining the concept of your self-directed Solo 401k with checkbook control can send many banker's heads swimming. Not all banks are familiar with a Solo 401k structure. Some banks might say the Solo 401k is illegal or that their bank is incapable of opening these types accounts.
Take the hassle out of your Solo 401k bank account with Titan Bank.
Work with a bank who understands your Solo 401k. Your online banking portal provides you with...
Same day bank account(s) setup
Send up to 25 free domestic wires per month
Unlimited free ACH transfers
Integrates with your Nabers Solo 401k document center
In just a few clicks, you can open multiple Solo 401k bank accounts for you and your participating spouse including Pre-tax, After-tax, and Roth. There's no need to re-enter your application info, thanks to our secure integration with Titan.
Remember, the bank account is in the name of your 401k trust, using your new 401k trust tax ID number. Your personal social security number, or business EIN is not listed on the 401k bank information.
Note: If you have more than one participant in your retirement plan (such as a spouse), each participant’s funds must be accounted for separately. You and your spouse may maintain separate bank accounts. You can also account for each participant's funds with the use of spreadsheets or accounting software without the need for a separate bank account. However, if you choose to keep you and your spouse's 401k participant funds together in one 401k bank account, you must maintain excellent records of whose funds belong to whom.