Everything You Need To Know About Ubiquity's Solo 401(k)

Read our FAQs to find out how to:

  • Set up and manage your Solo 401(k)
  • Maximize your contributions
  • Request a loan
Get maximum tax benefits while also saving for your future!

A solo 401(k) is a retirement savings plan for a self-employed or sole proprietor business owner (and spouse, if applicable).  This individual 401(k) plan goes by different names, including Single(k)®, self-employed 401(k), Individual 401(k), or one-participant 401(k).

A solo 401(k) plan provides all the same benefits as their larger, traditional 401(k) counterparts, acting as a savings vehicle for participants to invest contributions from their paychecks. By playing both roles as both employer and employee, solo 401(k) plans allow self-employed business owners to maximize their retirement contributions. Solo business owners can then gain additional savings by deducting these 401(k) contributions, along with any plan costs, as a business expense.

With the Single(k)® solution from Ubiquity Retirement + Savings™, a business owner can establish a plan online in minutes for one low fee and start saving today.

About Single(k)®

Is my Single(k)® protected against creditors and/or lawsuits?
How do I set up and manage my Single(k)® plan?
How does Single(k)® work?
What is a Single(k)®?


What is the maximum profit-sharing contribution that can be made to a participant’s account?
Does the “catch-up” contribution apply to me?
If two people are in a Single(k)® plan, do both have to contribute?
How much can I save in Single(k)®?


Is there a deadline to fund a Single(k)® plan?
Is there a deadline to establish a Single(k)® plan this year?


What happens if I hire one or several full-time employees?
Can a business partner who is not related to me take advantage of a Single(k)®?
Can a spouse or a family member who works with me participate in a Single(k)®?
Can I sign up for a Single(k)® if my business has employees?

Getting Started

Can I set up my Single(k)® in the name of a revocable living trust?
Can I set up automatic payments to my Single(k)®?
Do I need an Employer Identification Number (EIN)?
How long until my account is set up and ready to be funded?
How do I get started?

Hardship Withdrawals

What is a “contribution suspension”?
What are the tax consequences of taking a hardship withdrawal?
What documentation is required?
If I have a hardship, how much can I withdraw?
What does the IRS consider as a “hardship”?
Can I take a hardship withdrawal from my 401(k) plan?


What can I invest in?


How long does it take to process the loan?
Can I borrow against my Single(k)® assets?


Do I have to sell my stocks in my IRA or previous 401(k) to roll them over to a Single(k)®?
How long do I have to roll my previous retirement accounts into my new Single(k)® plan?
Can I roll over my current retirement plan into the Single(k)® account?

Roth 401(k)

Do I need to establish a separate account for my Roth contributions?
Can my plan offer only Roth contributions?
Can distributions from a Roth account be rolled over?
Can distributions from a Roth account be rolled over?
Can I withdraw money from my Roth account while I am still working?
Do Roth contributions need to be reported separately from wages, tips and other compensation on the Form W-2?
Do I have any recordkeeping or reporting obligations with Single(k)®?
If I start making designated Roth contributions at the beginning of the year and later change my mind, can they be re-categorized and transferred from my Roth account to my traditional, pre-tax account?
Can my Roth contributions be made to my pre-tax account?
How much may I contribute to my Roth account?
Can I make both pre-tax contributions and Roth (after-tax) contributions in the same year?
Who should consider saving in a Roth 401(k)?
What is a Roth 401(k)?


What if I want to terminate my account?

© 2023 Ubiquity Retirement + Savings
Privacy Policy
Do not sell my info
44 Montgomery Street, Suite 300
San Francisco, CA 94104
Support: 855.401.4357

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© 2023 Ubiquity Retirement + Savings
Privacy Policy
Do not sell my info
44 Montgomery Street, Suite 300
San Francisco, CA 94104
Support: 855.401.4357

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