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Learning, Sharing, and Teaching => Ask a Mustachian => Topic started by: green daisy on January 29, 2015, 06:05:10 PM

Title: Question about Solo 401K
Post by: green daisy on January 29, 2015, 06:05:10 PM

My husband is self-employed with an LLC and no employees.  He also owns a partnership with his brother, and this business has an employee.  I'd like to open a Solo 401K for him under his LLC.  Does anyone know if this will pose a problem since he also has this other business?  I would think that it wouldn't, but I don't want to find out after the fact.   

Thanks!

Ugh!  I just found some information about "controlled groups" and the IRS when there's more than one business involved.  I'll have to run this past our CPA. 

Title: Re: Question about Solo 401K
Post by: JustTrying on January 29, 2015, 08:04:21 PM

It looks like you already have a plan of who to ask, but I'll just add: My husband is self-employed, so he started a solo 401k this last year with Vanguard, and they were really helpful over the phone. I'd suggest just calling Vanguard to see if they can help!