Fidelity Solo 401k Brokerage and Wells Fargo Solo 401k Bank Account

I called Fidelity, and they were able to process the movement of the funds over the phone.  They will be sending a check to my self-directed 401k, fbo my name.

QUESTION: So to make sure it's all legit with the IRS, I have to just deposit that check to my account with wells, and that should be it, and from there, I can start investing, correct?

ANSWER: Correct in that you will deposit the direct rollover check into the solo 401k bank account. Therefore, it will be treated as a direct rollover (from one 401k to another), meaning that Fidelity will issue a Form 1099-R in January 2013 with code "G" in box 7. Code "G" is the code used to report that the funds were directly rolled over from one 401k to another such as a solo 401k. You will then report the direct rollover amount in in box 16 and write rollover to 401k in box 16b of your Form 1040. As your solo 401k plan document provider, we will send you a reminder e-mail regarding this in December of this year.

Once the funds are deposited to the Solo 401k bank account with Wells Fargo, as the named trustee of the solo 401k you will start making investments.

QUESTION: Also to buy stock / bonds do I have to open another account with a broker under the 401k trust or is there some other procedure from there?

ANSWER: With respect to trading stocks and bonds, a separate brokerage account in the name of the solo 401k will need to be opened with one of the brokerage firms which we can help you with. We have the necessary forms to open the appropriate brokerage account for your solo 401k at Schwab, Fidelity and TD Ameritrade.