Where to rollover 401k $ - SEP/IRA/SOLO 401k?

[CarolinaGirl]

DH(48 y.o.) switched his main job Jan 1 and needs to move his old 401k out of where it currently resides due to the high fees being charged.  Also, the fund options there totally sucked.  I’m unsure of where we should move the 401k $ and would like your advice.

He had contributed to a Merrill Lynch SEP IRA for his side hustle up until last year when he opened a SOLO 401K in 2018 with Fidelity.  He will continue working his side hustle going forward.

His new main job, a company with 3 employees total (including the owners), could only offer a SIMPLE with very high commission fees through an advisor IF he wanted some kind of retirement plan through them.  We do not wish to use an advisor with high fees/commission so the SIMPLE will not be set up for DH and will remain something that only the owners use for their retirement.  Yes, I realize he would get a small match from his employers in the SIMPLE account but with the fees/commission structure it would seem to be a wash and we would have zero ability to handle the money ourselves.

Should we move the old 401k money to:
A) the SEP IRA?
B) the SOLO 401K?
C) a new traditional IRA?

I wouldn’t think that the balances in these accounts would matter so I’m not divulging that information.  Also, both Fidelity and ML give us free trades for these accounts. 

 

[MDM]

If he might have an interest in the Backdoor Roth process in the next few years, the solo 401k would be best.

[CarolinaGirl]

So DH ended up initiating a rollover to his SEP account at Merrill Lynch.  It was an interesting conversation...  DH, Merrill Lynch and the old 401k provider were all on a call together.  The old 401k provider said that to cut a check for disbursement of the funds they would charge a FIFTY FIVE dollar fee!!!  WTH?!?!?  Immediately the Merrill Lynch associate told DH that once Merrill Lynch received the funds that they would REFUND him the $55 that the old provider charged.  The $55 would be placed in his SEP along with the rollover $.  You could hear crickets on the phone.  LOL!!!!  Go ML!  :)