If you followed your rollover guide in the Solo401k dashboard, you did a direct rollover. This is the best case scenario and we hope that's what occurred for you!

A direct rollover (also known as a trustee-to-trustee transfer) means there never was a distribution to you personally.

Instead your previous plan administrator made the rollover check out to the name of your 401k plan/trust. If that’s the case, there was never a distribution so there’s nothing there to be a rollover contribution logged, or recorded, or reported. When the releasing custodian files IRS form 1099-R, they will list Distribution Code G on line 7 (direct rollover) and no taxable reporting will be required.

If for some reason the releasing custodian made a check out to your name instead of the 401k trust, you may have done an indirect rollover.

Please see this guide on how to document an indirect rollover into your Solo 401k plan. Typically, you will have 60-days from the date on the check to get funds into your 401k trust, and avoid taxable penalties.

For further clarification, consult your CPA or tax advisor.

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