| To start your journey, begin here! :) https://www.bogleheads.org/wiki/Solo_401(k)_plan There's several mainstream providers listed on the site:
- Fidelity
- Schwab
- T. Rowe Price
- Vanguard Each has various fee structures, features, and tiers of hand-holding depending on how savvy you are financially and needs. For example, some providers can act as the actual plan administrator for your i401k relieving you of the burden of liability in bookkeeping and may or may not support loans or certain withdrawal types or even traditional versus Roth contributions. Those top four listed above are examples of these. However, other providers are simply accounting firms that allow you to bring your own plan document in advanced financial engineering mode to support things like Substantially Equal Periodic Payments for distributions in early retirement, mega-backdoor after-tax contributions wizardry, rollover/transfer features that are technically allowed by the IRS but usually missing from mainstream 401k plan documents like accepting incoming Roth 401k transfers or in-service withdrawals to use the i401k simply as a qualified plan conduit into checkbook control of an IRA for advanced self-directed investments or into a previous employers 401k for less fees or better investment options and especially to ensure creditor protection due to the identicalness between plan trustee of the i401k and employee participant ending up muddling the legal waters between what assets are afforded ERISA protection against debt liability claims in case you or your business are sued and collections judgements are levied. I hope this hasn't confused you a lot, or made you nervous about investigating considering you 'only' spent most a day so far researching this. If you just want a quick default, I'd probably go with Fidelity or Vanguard. In the paperwork, you _are_ the "employer" in the language of 401k terminology -- we wear two hats in this regard where you act both as making employer decisions like providing your employee (also you) salary deferrals (the current ~$18K limit) or employer contributions (the rest of the fillup toward ~$53K depending on profits). If they need a EIN, it's going to be your SSN as a passthrough sole proprietorship. |