Reviews for www.mysolo401k.net | Title Solo 401k Bank Account

Before filing my formal application with you I’d like your preliminary take
on the following:

-Funds will be transferred from current bank account styled “Joe S
IRA”

-Current sole proprietorship files annually with IRS under my name and SSN.

-EIN (planned but not yet applied for) in name of “XYZ Solo 401k
Trust”.

-Planned DBA (not yet filed)  “XYZ 401k Trust DBA JS SOLO
TRUST”,  with checkbook designation:  “JSSOLO TRUST “. This is for
checkbook account styling, not IRS filing.

CORRECTION: The checking account would read as follows: XYZ Solo 401k Trus FBO Joe S

 Please advise recommended revision of any of above before I fill in my
application with you.

Additional question:

What is involved in funds transfer (on different dates) from same existing
IRA bank account noted above to identically styled accounts Solo 401k
accounts at two different banks? Additional fees on your part? I do not
anticipate more than four total transfers.

ANSWER: We do not charge any additional fees for preparing IRA transfer forms. With regard to moving funds from an IRA to a solo 401k, I recommend always processing it as a direct rollover instead of a 60 day rollover. Reason being, unlike a rollover where only one can be processed in a 12 month period from the respective IRA, one can process unlimited number of direct rollovers in a 12 month period. Again, we will prepare the IRA direct rollover form(s) once you sign up for our services.

The references you provided were very positive about your services, and they all gave great reviews regarding www.mysolo401k.net

Thanks,

Joe P in Maryland