Pardon me if these topics have already been covered exhaustively but I'm having some trouble finding answers to my questions online. I already have a solo 401k that I set up years ago as a sole proprietor with an EIN number. I recently created an LLC for my business (taxed as a sole prop). If I wanted to set up a new self-directed Solo 401k plan, should I use the old EIN matching my other solo 401k plan or the new LLC EIN? (And what difference would it make?) Am I permitted to have multiple solo 401k plans, or would I be required to transfer my old plan into the new plan?
Also, I see an assortment of providers and fees out there but I am wondering, why can't someone just pay a fee to set all this up one time and self-manage the account thereafter? It sounds like the only reporting requirement is if the account balance goes over 250K. My CPA needs to file that form anyway. What justification is there for the ongoing annual fees for the life of the plan? (No offense to anyone out there, just asking...)
My interest for setting up the self-direct solo 401k would be to make real estate investments, in case that has any bearing on the above questions.
Thanks so much for any insight and feedback!