Individual/Solo 401k Plans

By Robert McGowan

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.