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.
Fortunately, with our history and reputation in the industry, we have a Solo 401k-friendly bank ready to help you!
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.
Titan Bank
Phone: 214-580-3187
Email: [email protected]
Web: http://www.titanbank.com
3100 Monticello Ave, Suite 400 Dallas, TX 75205
Located in Texas
Clients in all 50 states
Online and mobile banking available
$14.95/mo fee (waived if maintaining $500 monthly balance across all accounts)
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.