Solo 401k question

[Omy]

I've read...and been told...that you need an EIN to open a solo 401k. I'm being told by a CFP that he has opened one for himself with just his SSN. Can any of you brilliant people tell me if I need an EIN? I am a sole proprietor, and my 1099s have my social security number and name on them.

[terran]

My guess would be this depends on the place you open it, so I would call and ask. My Applications for both Fidelity (several years old) and E*Trade (a year or two old) both request "Employer Tax ID" but since I used my EIN I can't say whether they would have accepted an SSN. Why not get a EIN? That way you can also stop giving your SSN to clients. The fewer places that's floating out their the better IMO.

[bacchi]

You used to be able to create one using an SSN but, from a cursory look, the big brokers require an EIN now. My first solo 401k, with Fidelity, used my SSN.

[Watchmaker]

You used to be able to use your SSN (I set up one for my SO at Vanguard ~ five years ago using hers), but as far as I can tell an EIN is now required.

It's not hard to get an EIN.

https://irs-ein-forms-gov.com/sole-proprietor/