If you have over $250,000 in assets, there’s a form (5500) that has to be filled out. And if you don’t, you might still want to fill it out. It’s not complicated. You’re basically saying, “Here’s the assets, here’s the value,” and there you go. It’s really not that big of a deal and an accountant can take care of it for you easily
Articles in this section
- How complicated is reporting to the IRS?
- What’s are the ongoing responsibilities and costs involved in an Solo 401k Administration?
- Is the Solo 401k set up with myself being the administrator, or can someone else be the administrator? What are the duties of an administrator?
- Under law how long must plan administer or plan provider keep 401(k)-related records?
- Do I have to file anything with the IRS?
- For the 2017 year if my company is a Sole Proprietorship, LLC or Corporation how much time do I have to make contributions to my plan and take a tax deduction?
- What is a 990T?