Question: I want to set up my repayment to be electronic funds transfer from my personal bank account at one bank directly into my Solo 401(k) Trust account at another bank.  Is this OK?

Answer: It is perfectly OK and actually a very good idea to have your payments directly transferred from your personal bank account into your Solo 401(k) bank account. This will ensure you don’t miss payments in the future which could result in tax and penalties becoming due on the loan proceeds.

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