Rollover Pretax IRAs to Solo 401k help

Home Fairmark Forum Retirement Savings and Benefits Rollover Pretax IRAs to Solo 401k help

Viewing 1 post (of 1 total)
  • Author
  • #4729

    I need some guidance Re. rollover of my pretax IRA accounts (SEP IRA and Rollover IRA from my former employer’s 401K) to my Solo 401k. I had set up my Solo 401k more than 10 years ago when I was self employed (sole proprietorship). I have been on W2 income for last 10 years and have not contributed to my Solo 401k during this time. My solo 401 plan is with Fidelity which allows rollovers. Can I use my Solo 401K to rollover my pretax IRAs? I would like to do this to convert my traditional IRA opened with non deductible contributions to Roth IRA and avoid pro rata rule. I retired in 2018 but do plan on doing some consulting work on the side. The balance in my Solo 401K will go over $250K after this transfer and I understand that I will need to file form 5500-EZ next year.

    Appreciate your help!!

Viewing 1 post (of 1 total)
  • You must be logged in to reply to this topic.