If you change your sponsoring business (the business that adopts your Solo 401k plan), you might be wondering if your 401k plan name changes, too.

Often the plan name remains the same, even when the business information changes.

Let's look at an example:

Jane Smith sets up her Solo 401k under her S-corp Smith Consulting Inc.

Original business: Smith Consulting, Inc.

Original plan name: Smith Consulting, Inc. 401k Plan

Original trust name; Smith 401k Investments Trust

About a year after having her Solo 401k, Jane decides to reorganize as an LLC with her husband, John.

New business: Smith & Smith LLC

Jane requests we update her 401k plan documents to reflect her new business and asks if. her 401k plan name should change to Smith & Smith LLC 401k Plan, since she doesn't have the S-Corp anymore. She's concerned her 401k plan name shouldn't be called Smith Consulting Inc 401k Plan, since Smith Consulting Inc is no longer an operating company.

In this scenario, we'd have Jane review the following diagram:

Jane confirms she does not have any brokerage or bank accounts using her 401k plan name. All accounts are titled in the name of her 401k trust (Smith 401k Investments Trust).

Therefore, it's OK for us to change her 401k plan documents to the following:

New business: Smith & Smith LLC

New plan name: Smith & Smith LLC 401k Plan

Original trust name; Smith 401k Investments Trust

If Jane had any brokerage or bank accounts, or assets in the name of the original plan, we would keep the original plan name to avoid any confusion.

Any accounts/assets using the trust name are OK but we don't want to change your plan name without explicit confirmation from you first.

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