- Rocket Dollar Knowledge Base
- Self-Directed Solo 401(k) (Traditional or Roth)
- Self-Directed Solo 401(k) FAQs
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Pricing, Products, and Refund Policy
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FAQs and the Benefits of Self-Directing Retirement Accounts
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Support
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Investing and Alternative Asset Classes
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Self-Directed IRA (Traditional, Roth, or Beneficiary)
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Self-Directed Solo 401(k) (Traditional or Roth)
- Self-Directed Solo 401(k) FAQs
- Opening a Rocket Dollar Self-Directed Solo 401(k) Account
- Structure of a Rocket Dollar Solo 401(k) Account
- Contributions and Contribution Limits
- Eligibility
- IRS-Related Questions
- Rolling Over/Transferring Old Accounts
- Solo 401(k) Traditional Contributions
- Solo 401(k) Roth Contributions
- Solo 401(k) Loans
- Uncommon Questions
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Self-Directed SEP-IRA
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Self-Directing Retirement Compliance and Self Care
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Partnering with Rocket Dollar
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Fundraising with Rocket Dollar
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Specific State Rules
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Privacy, Security, Identity, and Fraud
What are the reporting requirements for a Self-Directed Solo 401(k)?
At Rocket Dollar, Solo 401(k)s over $250,000 in assets should file Form EZ-5500. It is optional for smaller accounts.
Reporting
Reporting for Self-Directed Solo 401(k) distributions is done using IRS Form 1099-R.
Form 5500-SF
If you have over $250,000 in assets in the plan, Form 5500-SF is required to be filed on an annual basis. Rocket Dollar will assist in filing this for you as a part of your compliance fee and service.
For advanced tax questions, we always recommend you consult with a tax advisor to determine the correct filing method.
What about the Form 5500-EZ?
This form is required to be mailed in through physical mail, so Rocket Dollar helps you with Form 5500-SF that can be electronically filed.
Contributions
With a Rocket Dollar Self-Directed Solo 401(k), contributions must be calculated by you, not Rocket Dollar. Depending on the complexity of your salary situation, profit sharing, etc., you may want to consider contacting a financial advisor or CPA for tax advice, such as how to correctly pay yourself a self-employed salary to reach your yearly contribution or retirement goals.
You can read more about maxing out Solo 401(k) contributions here.