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How to create solo 401k with Fidelity

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  • How to create solo 401k with Fidelity

    Was hoping someone could review how to create a solo 401k with Fidelity--specifically which forms need to be completed and how they should be filled out.

  • #2
    https://www.fidelity.com/retirement-ira/small-business/self-employed-401k/getting-started

    https://www.fidelity.com/static/dcle/ira/documents/se401kfrp.pdf
    https://www.fidelity.com/static/dcle/ira/documents/EGTRRA_SE401KAdptAgree.pdf
    https://www.fidelity.com/customer-service/forms-applications/se-401k

    Mail to:
    Fidelity Investments
    PO Box 770001
    Cincinnati, OH 45277-0036

    ...might be some way to send them electronically, but not totally certain.

    Good luck :-)

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    • #3
      I recommend calling Fidelity when you are filling out the forms to confirm that you are filling out the correct form.  The forms online aren't always the most up to date versions, and you won't know this until they don't process your agreement plan.  If you are trying to set this up for 2017 you need to get these forms in ASAP.

      Call and check on the status of your forms frequently. It will take longer than you think, and if there is a problem with the forms they may not call you about it.

      The best service I have had from Fidelity was obtained by going to a nearby branch in person.

       

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      • #4
        Agree with EM VADER above. When I started my solo 401k many years ago I just went to the local nearby Fidelity office and drank their gourmet coffee and ate their delicious cookies while the nice lady filled out all the forms for me. I just signed the forms once she was finished and I took some hot chocolate and cookies to go as well.

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        • #5
          That's a good thing about Fido there Vanguard doesn't have. I know that brick-and-mortar is so antiquated, but just in case you need or want in-person service, they're everywhere. Ditto Schwab.

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          • #6



            You actually have to send in the dead trees.

            It was a ludicrously easy thing to do for me. I did talk with one of their reps on the phone b/c a few of the boxes are a bit confusing.

            FWIW/FYI you do NOT need an EIN to do a solo 401k at Fido. I'm 6 months into mine and they've never asked. My accountant says if they don't ask to not worry about it.

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