How quickly can I open and fund a Self-Directed Solo 401(k)?

Rocket Dollar can open a Self-Directed Solo 401(k) in 2 -4 weeks or 2 weeks with Rocket Dollar Gold.

Solo Self-Directed 401(k) Timeline - 2 - 4 weeks

  1. Opening a Rocket Dollar account online: 5 minutes
  2. Opening a Solo 401(k): 2-3 Days
  3. Waiting for your custodian to transfer a roll over the funds, best case: 5-10 business days.

Is there anything special about 401(k) transfers I should keep in mind? How do I make it faster?

Call your provider/record-keeper ASAP. Ask for their process and if an electronic transfer or rollover process is possible. Acquire any distribution form needed from your former employer. This may come from your HR department or boss.

Keep in mind that many 401(k) providers often still work with physical checks and might not offer electronic transfers. You may have to pay $10-$20 extra to overnight the mailed check if you need it expedited.

If you had to turn in a rollover form to your old employer, be sure to call and confirm it was received and processed. This gives the 401(k) provider authorization that you are the correct owner requesting and authorizing the distribution of the funds.

If you do not call your record-keeper or employer, and miss a crucial step that our Rocket Dollar service team cannot assist you on, this could make the 401(k) rollover process as long as 2 weeks.

How does it work?

Solo 401(k) Funding (1)

 

Read more about our Self-Directed Solo 401(k)