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How many Solo 401ks can you have?

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  • How many Solo 401ks can you have?

    Hello all,

    I'm going to be an Independent Contract worker and maxing out my own 401k (18k +35k) @ 53k hopefully next year. My question is if I pick up multiple side gigs as an IC with different hospitals. As long as I am an IC at each hospital (not being paid by a locums company and rather each individual hospital), could I theoretically save in multiple Solo401ks? Should I even bother and just throw it all into 1 solo401k as "IC work outside of my main IC job?" Thanks for the help.

  • #2




    Hello all,

    I’m going to be an Independent Contract worker and maxing out my own 401k (18k +35k) @ 53k hopefully next year. My question is if I pick up multiple side gigs as an IC with different hospitals. As long as I am an IC at each hospital (not being paid by a locums company and rather each individual hospital), could I theoretically save in multiple Solo401ks? Should I even bother and just throw it all into 1 solo401k as “IC work outside of my main IC job?” Thanks for the help.
    Click to expand...


    They will all be treated as one aggregate SOLO-k b/c you are the same owner of all of the businesses. So, yes, much easier to have a single business to run all through. If you were employed by a hospital and had multiple IC gigs of your own, you could fill up your 401k at work and then fill up a SOLO-k with the IC gigs but only 1 employee-funded $18k across both 401k's.
    Working to protect good doctors from bad advisors. Fox & Co CPAs, Fox & Co Wealth Mgmt. 270-247-6087

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    • #3
      Remember when you're an IC you're the business and the hospital/gig is the customer, not the business. So it's one business with multiple customers, so one 401(k).
      Helping those who wear the white coat get a fair shake on Wall Street since 2011

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      • #4
        Thank you all for your answers.

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