How do I make a contribution to my solo 401(k)?

To contribute to your Solo 401(k), you will need to link the appropriate bank account. We recommend using a business bank account as your funding account as well as working with a CPA to ensure that appropriate payroll funds are being used for the contributions to your solo 401(k). You can select the tax year you’d like to make contributions toward as long as it is within the tax deadline timeframe (similar to IRAs). Betterment’s platform enables clients to make prior-year contributions to ...

How do I take a distribution from my solo 401(k)?

If you need to take a distribution from your Solo 401(k), you can log into your account, click “Transfer or rollover,” select “Withdraw” from the menu, and then select your Solo 401(k) to see what distribution types are available and to initiate your request. Please note that withdrawals from Solo 401(k)s are self-directed and that Betterment does not monitor them. Betterment does not provide tax or accounting advice. You are responsible for ensuring that your Solo 401(k) complies with ...

How do I add or remove a spouse to my solo 401(k)?

If you know that you’d like to add your spouse to your solo 401(k), we can include them during the initial account set up conversation. If you’re adding a spouse after the account has already been created, or if you need to remove a spouse from the account, please reach out to our Support team for assistance.

How do I sign up for a Solo 401(k)?

If you’re already a Betterment Premium client and you’ve decided that a Solo 401(k) at Betterment is right for you, you can reach out to the advisor team at advisors@betterment.com to let them know that you’d like to open an account. If you’re new to Betterment or new to Betterment Premium, you can use this link to schedule a call with a member of our licensed team who can help you get set up.

What are the fees for Solo 401(k)s?

Betterment offers Solo 401(k) accounts through our Premium plan. In addition to the investment advisory fees that apply to Premium services, Solo 401(k) accounts will also have an annual platform fee of $100 (which is waived for 2025).

What are Solo 401(k)s?

Solo 401(k) accounts are tax-advantaged retirement savings accounts that are available to self-employed individuals and their spouses. These accounts can be beneficial for individuals who may not have access to a traditional 401(k) plan, but want to maximize their contributions to retirement savings. This article can help you learn more about some of the advantages of Solo 401(k)s, as well as the similar SEP IRA.

How do I do a rollover into my solo 401(k)?

If you’re looking to consolidate retirement plans into your solo 401(k), you can start that process by clicking the “Transfer or Rollover” button in your account, selecting “Rollover to Betterment,” then select your solo 401(k) as the account you’d like to roll funds into. Once you answer a few questions about the account that you’re moving, you’ll get instructions or any paperwork necessary to take the next step. If you’re planning on transferring more than $20,000, our Licensed Concierge team ...

Solo 401K

Uncategorized

To contribute to your Solo 401(k), you will need to link the appropriate bank account. We recommend using a business bank account as your funding account as well as working with a CPA to ensure that appropriate payroll funds are being used for the contributions to your solo 401(k). You can select the tax year you’d like to make contributions toward as long as it is within the tax deadline timeframe (similar to IRAs). Betterment’s platform enables clients to make prior-year contributions to ...
Read More
If you need to take a distribution from your Solo 401(k), you can log into your account, click “Transfer or rollover,” select “Withdraw” from the menu, and then select your Solo 401(k) to see what distribution types are available and to initiate your request. Please note that withdrawals from Solo 401(k)s are self-directed and that Betterment does not monitor them. Betterment does not provide tax or accounting advice. You are responsible for ensuring that your Solo 401(k) complies with ...
Read More
If you know that you’d like to add your spouse to your solo 401(k), we can include them during the initial account set up conversation. If you’re adding a spouse after the account has already been created, or if you need to remove a spouse from the account, please reach out to our Support team for assistance.
Read More
If you’re already a Betterment Premium client and you’ve decided that a Solo 401(k) at Betterment is right for you, you can reach out to the advisor team at advisors@betterment.com to let them know that you’d like to open an account. If you’re new to Betterment or new to Betterment Premium, you can use this link to schedule a call with a member of our licensed team who can help you get set up.
Read More
Solo 401(k) accounts are tax-advantaged retirement savings accounts that are available to self-employed individuals and their spouses. These accounts can be beneficial for individuals who may not have access to a traditional 401(k) plan, but want to maximize their contributions to retirement savings. This article can help you learn more about some of the advantages of Solo 401(k)s, as well as the similar SEP IRA.
Read More
If you’re looking to consolidate retirement plans into your solo 401(k), you can start that process by clicking the “Transfer or Rollover” button in your account, selecting “Rollover to Betterment,” then select your solo 401(k) as the account you’d like to roll funds into. Once you answer a few questions about the account that you’re moving, you’ll get instructions or any paperwork necessary to take the next step. If you’re planning on transferring more than $20,000, our Licensed Concierge team ...
Read More