Tag: solo 401k bank account

Opening a bank account for a Checkbook Control Solo 401(k) Plan or QRP should be straightforward. However, being that many bankers are unfamiliar with Checkbook Control Solo 401K Plans and Checkbook Control IRAs, opening bank accounts for these tax-sheltered retirement plans can seem complicated.

The most important thing to convey to your banker is that they are just opening a business bank account for a trust; they are not setting up a 401k Plan or IRA account.

In this post we’ll provide all the info you and your banker need to set up accounts for your Self-Directed Solo 401K Trust. Continue reading “Checkbook Solo 401k or QRP: How To Open a Bank Account” →