Question about Keogh for Self Employed

[lincolntunnel]

In 2020 I started a side gig for the first time paid as an independent contractor (1099-NEC). I opened a self employed profit sharing Keogh at Fidelity. I obtained an EIN for that plan. Now I'm sitting down to do my taxes and I'm confused and hoping I didn't make a big mistake. My 1099-NEC has my own personal social security number. Is it a problem that it does not have the EIN that I obtained to open the Keogh? I funded it to the max and have been trading in that account. I'm really hoping I don't have to unwind my Keogh and pay tax on the contributions or something.

[ENT Doc]

Did the entity paying you even have your EIN? They may be obligated to put your individual social on the 1099. I don’t think that’s relevant from a contribution perspective. You’ll reconcile this on your Schedule C and QBI deduction. You’ll also provide your 1099 to the IRS so they can verify. I wouldn’t sweat this.

[lincolntunnel]

No they didn't have my EIN. I'm gathering from replies in another forum (and yours) that that is a non-issue. Thanks. As an aside, how does the IRS know that I actually did make these contributions?

Edit: I guess Fidelity will provide the IRS that info.

[ENT Doc]

No they didn't have my EIN. I'm gathering from replies in another forum (and yours) that that is a non-issue. Thanks. As an aside, how does the IRS know that I actually did make these contributions?

Edit: I guess Fidelity will provide the IRS that info.

You’ll also account for this on Schedule 1, Part II.

[spiritrider]

You did not adopt a Keogh plan at Fidelity. You adopted their "Self-employed" 401k plan, a marketing term for a "one-participant" 401k plan.

A Keogh plan is a legacy self-employed qualified plan from the 60s. It has largely been superceded by the one-participant 401k plan over the last 15 - 20 years.

It is just that Fidelity's back office still refers to it as a Keogh plan, but it is operationally a one-participant 401k plan.