How do I set up and manage my Single(k) plan?
- Sign up — Sign up for Single(k) and return the necessary documents to our office.
- Follow your plan documents — Once the plan is set up, you’ll need to follow the plan provisions:
- Fund your Single(k) plan with your contributions on time and
- Invest those contributions through the investment vehicle of your choice.
- Monitor your balance and complete any necessary tax-related forms:
- Submit annual tax reporting (the Form 5500) if your 401(k) assets reach $260,000 by December 31st.
- File a Form 1099-R with the IRS anytime you withdraw money from your 401(k) plan (excluding loans).
We can prepare your tax forms for you for a $195 fee (firstname.lastname@example.org or 855.401.HELP  Option 3), or you can have your accountant prepare this for you.