Po-tay-to, po-tah-to. Solo(k), Single(k)®.
No matter what you call it, Ubiquity is here to help sole proprietors with their retirement planning.

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

General Questions

What is a solo 401(k)?

About Single(k)®

What is a Single(k)®?
How does Single(k)® work?
How do I set up and manage my Single(k)® plan?


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


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


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

Hardship Withdrawals

What is a hardship withdrawal?
Can I take a hardship withdrawal from my 401(k) plan?
What documentation is required?
What are the tax consequences of taking a hardship withdrawal?


What can I invest in?


Can I borrow against my Single(k)® assets?
How much can I borrow?
Are there any associated fees with taking a loan out from my retirement account?
How long does it take to process a loan?


Do I have to sell my investments 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)

What is a 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?
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?


What if I want to terminate my account?
What do Ubiquity’s termination services include?

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?

Ubiquity is not a registered investment advisor, and the information provided herein should not be considered legal or tax advice. We recommend consulting with your financial planner, attorney, and/or tax advisor for personalized advice.

Please refer to Important Information for details.

© 2023 Ubiquity Retirement + Savings
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44 Montgomery Street, Suite 300
San Francisco, CA 94104

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© 2023 Ubiquity Retirement + Savings
Privacy Policy
44 Montgomery Street, Suite 300
San Francisco, CA 94104