Individual/Solo 401k Plans
July 6, 2022
Sole Proprietors and Self-Employed – Take advantage of the high limits and flexibility of Individual 401k plan. Establish a plan by December 31 or fiscal year-end to be eligible to make deferrals relating to the tax year.
Individual(k) May Be Best for Employers Who:
- Are self-employed or owner-only businesses with no employees other than a spouse
- Need to make contributions larger than what typically can be made to SEP-IRA, SIMPLE-IRA or profit-sharing plans alone
- Want flexibility in the amount of annual contributions
- Want an easy-to-administer, low-cost plan
Learn all the benefits of an Individual 401(k) Plan. Contact your CIP financial representative for more information.