Solo K - Questions to ask

[Faith Kirk]

I am looking for advise on transferring money from an IRA to a SOLO K. We have an IRA that we would like to transfer the money to a SOLO K and we are speaking to a financial person this afternoon about doing that. What questions should we ask? What don't we know that we don't know to ask? This forum is a filled with people who have more knowledge and experience than I and am grateful to have access to you all for help. I thank you in advance for any advise, potential questions to ask and steps to take.

[Justin Windham]

@Faith Kirk

Do you want to invest into real estate with the Solo 401k? If so, you'll likely need to speak with a specialty provider rather than a typical financial advisor or representative. A few questions to ask:

• Does the plan allow for investment into alternative assets, such as real estate?
• Are participant loans allowed?
• Can you transfer in existing retirement funds?
• Is checkbook control allowed?
• Is there a built-in Roth component?
• Are after-tax (non-Roth) contributions allowed?
• Does the plan allow for in-service distributions?
• What are the setup and annual fees?
• Are there any transaction, asset, or termination fees?
• Is a custodian required?
• What is included in ongoing support?