Until what age can we contribute to the self-directed Solo 401k plan

QUESTION: Until what age can we contribute to the self-directed Solo 401k plan?  Is it until we reach 59.5 years of age?  

ANSWER: The Solo 401k contribution rules permit contributions past age 59 1/2. Actually, you can contribute up until you stop being self-employed.

The 59 1/2 rule deals with when you can start making Solo 401k distributions without having to pay the 10% early distribution penalty that applies to Solo 401k distributions made before normal retirement age.

QUESTION: As for this year's Solo 401k contribution, may I open the two Roth accounts with that?  I may wait until next year to rollover the other traditional IRAs to my Solo 401k.

ANSWER:  Yes you can make Roth Solo 401k contributions for 2012 or in any future years provided you have the self-employment income to do so. 

Please use our online calculator to determine your maximum Roth Solo 401k contribution for 2012.

http://www.mysolo401k.net/solo401kcontributioncalculator.html