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Name printed on business checks
Most important fact: We live in a small town and use a local bank with not so savvy employees.
We have a checking account at a local bank for our Solo 401k.
It is in the name of our Solo 401k - "XXX Investments, Solo 401k" with of course my name and my husbands on the paperwork setting up the account.
Our checks, which we used to purchase real estate down the street from us, are printed with "XXX Investments, Solo 401k". We want to hire a neighbors son to maintain the lots. According to the rules, we must use checks to pay him, not cash.
However, living in a small town, we don't want to pay him with checks with the title on them of ""XXX Investments, Solo 401k".
Can we just order checks with our personal names,
rather than the lofty sounding ""XXX Investments, Solo 401k""?
Those of you who have ever lived in a small town will understand this. The reason for not asking my bank is because I am certain they will just say it needs to be in the company name. However, I have seen accounts in my lifetime that only had one name on them, even when multiple people were on the account.