Solo 401k Checkbook

Solo 401k Checkbook | Solo 401k Checkbook at Bank | Solo 401k Checkbook at Broker | Solo 401k Checkbook at Credit Union

 Obtaining Solo 401k Checkbook is fairly straightforward provided your Solo 401k Provider understands the Solo 401k checkbook control process.  Therefore, make sure to Open Solo 401k with a Solo 401k provider that provides you with Solo 401k checkbook guide to take to your local bank, credit union or brokerage firm to ensure your Self-Directed Solo 401k is properly established.

Solo 401k Checkbook can be opened at following financial institutions:

Solo 401k Checkbook at Bank

Even though not all banks have trained their staff on Solo 401k Checkbook Control process, we have found Wells Fargo bank to be the most educated bank regarding the process. Chase bank and Citi Bank are starting to understand the process but it’s still a hit or miss. However, once they read the Solo 401k Checkbook Control blog, they seem to understand it. Where the confusion occurs is at the account type level. These banks either think you are trying to open a family trust, living trust or a Solo 401k or Individual 401k with them, which is not the case. You are simply looking to open a basic checking account for your Solo 401k. In other words, you are not looking to use the banks administrative or fiduciary services as these services will be provided by you as the trustee of the Solo 401k.     

Solo 401k Checkbook at Credit Union

Similar to banks, not all credit unions have trained their staff on Solo 401k checkbook control process. However, we have found credit unions to generally understand the process once they read the our Solo 401kcheckbook control blog.

Solo 401k Checkbook at Broker

We have found that Fidelity, Charles Schwab and TD Ameritrade have a great grasp on Solo 401k checkbook control process. Of course, their applicable forms, not their Solo 401k or Individual401k forms, have to be completed and the Solo 401k provider’s Solo 401k document is required. It is possible to open brokerage account for your new Self-Directed Solo 401k with checkbook control with broker dealer because the administrative and fiduciary services will he provided by you as the trustee of the Solo 401k. In other words, the broker dealer is simply providing a brokerage account for your Solo 401k with an added checkbook feature.   

Lastly, your existing Solo 401k or Individual 401k with any of these brokers can be converted to Solo 401k checkbook control. To learn how, visit Change Solo 401k provider.