What to Expect
Solo 401(k)
Here’s what to expect as you begin the process of setting up a Solo 401(k), from submitting your application and funding your 401(k) to setting up your LLC and investing with your new plan.
Submit your application on our app
The following timelines are based on standard non-expedited selection.
You can premium expedite (within 24 hours) for one or more processes ($200 each) or standard expedite (within 48 hours) for one or more processes ($75 each).
1. The application will go into a queue to be reviewed. A new account specialist will call you within 3-5 business days if items are missing, filled out incorrectly, or need further follow up.
2. Once the application is complete and correct, an account number will be assigned within 3-5 additional business days. The account number will be emailed to you by newaccounts@irafinancial.com.
3. The transfer form will be submitted to the Transfer Department, or instructions to complete a Rollover or contribution will be emailed to you with your account number.
2. Once the application is complete and correct, an account number will be assigned within 3-5 additional business days. The account number will be emailed to you by newaccounts@irafinancial.com.
3. The transfer form will be submitted to the Transfer Department, or instructions to complete a Rollover or contribution will be emailed to you with your account number.
Fund your 401(k)
If you selected Rollover on your application, please contact your previous custodian to ask them to rollover or send funds to IRAFTC. Please complete a Deposit Form on our app and provide a current statement from the other custodian to accompany the incoming wire or check. The funds will be on hold until we receive them. If a Letter of Acceptance is needed, IRA Financial can provide upon request.
If you selected Contribution on your application, please send a deposit form when you wire funds or send a check to your IRA as a current year or previous year contribution.
If you selected Contribution on your application, please send a deposit form when you wire funds or send a check to your IRA as a current year or previous year contribution.
Open and fund your LLC bank account
We take care of everything for you when you choose our Complete Care Checking Account option, which is why we recommend it. The following are the options for opening your LLC bank account.
Complete Care Checking Account
Opened at Capital One
Can be opened in 24 hours
No fees
$1 minimum balance requirement
No checkbook/debit card
We handle all wires/banking transactions
Invest your 401(k) funds
- After you are notified that your new Solo 401(k) account has been funded, please complete the 401(k) Transfer form through our app to enter the investment info and funding instructions so IRA Financial can fund your Solo 401(k) investment.
- Compliance will review the investment within 3-5 business days of receiving it.
- An IRA Financial team member will call for verbal verification before we send the funds. The number will come from a 605 area code.
- The Solo 401(k) investment is funded.
Investing your retirement funds in alternative assets is not just a choice, it’s a movement. One that offers the possibility of greater choice, independence, and retirement wealth for everyone. Thank you for joining us. Your retirement future is as bright as you want it to be!
