Solo 401(k)The Entrepreneur's Advantage
Maximize contributions, invest in alternatives, and take control of your retirement as a self-employed business owner.
What is a Solo 401(k)?
A solo 401(k), also known as an individual 401(k), is a retirement plan designed specifically for business owners with no full-time employees other than themselves (and possibly a spouse). It combines the benefits of a company 401(k) with the flexibility to invest in private investments.
With Heritage IRA's Solo 401(k), you can contribute significantly more than a traditional IRA, invest in alternative assets, and even access your funds through a participant loan if needed. It's the ultimate retirement tool for entrepreneurs, freelancers, and consultants.
Why Choose a Solo 401(k)?
The Solo 401(k) offers unmatched advantages for self-employed individuals.
Higher Contribution Limits
Contribute nearly 10 times the amount of an IRA. Contributions can be made as employee and employer.
Alternative Investments
Invest in real estate, private equity, cryptocurrency, and more, just like a Self-Directed IRA, but with total control over the transaction.
Participant Loans
Borrow up to $50,000 or 50% of your account balance (whichever is less) for any purpose, a feature not available with IRAs.
Roth Option
Make Roth Contributions and in plan conversions of pre tax dollars for tax-free growth and withdrawals in retirement, without income limits that restrict Roth IRAs.
Who Qualifies for a Solo 401(k)?
You're eligible if you engage in ongoing self employed activities and have no full-time employees other than yourself and/or your spouse.
Eligible
- • Freelancers and consultants
- • Independent contractors
- • Sole proprietors
- • Single-member LLCs
- • Business owners with only a spouse as employee
- • Side hustlers with 1099 income
Not Eligible
- • Businesses with full-time W-2 employees
- • Businesses with part-time employees working 1,000+ hours/year
- • Partnerships with non-spouse partners who work in the business
Note: If you have employees, consider a different retirement plan like a SEP IRA or traditional 401(k).
What can I contribute to my solo 401(k)?
Solo 401(k) contributions have two components: employee deferrals and employer profit sharing. Consult with your tax advisor on how much you are eligible to contribute.
Why Choose Heritage IRA for Your Solo 401(k)?
Simple Setup
We provide the plan documents, generate the annual reports, and provide the tools you need to meet the IRS compliance requirements. You focus on growing your business and investments.
Alternative Assets
Invest in real estate, private equity, cryptocurrency, and more, all within your Solo 401(k) with expert compliance support.
Transparent Pricing
No hidden fees, no surprises. Clear, upfront pricing so you know exactly what you're paying for.
Take the Next Steps
Open your Solo 401(k) with Heritage IRA and start building the retirement you deserve.
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