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2 (or more) solo 401ks at different FIs possible?
Old 03-31-2020, 10:18 AM   #1
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2 (or more) solo 401ks at different FIs possible?

I currently have a solo 401k account through Vanguard.

Can my small business open a second solo 401k account with a different FI - Schwab, Fidelity etc. for the sole purpose of having access to a wider variety of fund options?
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Old 03-31-2020, 11:42 AM   #2
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Can't you simply move it over ?
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Old 03-31-2020, 11:49 AM   #3
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Quote:
Originally Posted by Sunset View Post
Can't you simply move it over ?
You mean move to a FI that provided Vanguard and non-Vanguard funds? I'd consider it, but my original question still stands.
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Old 04-02-2020, 01:18 PM   #4
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Bump - are multiple solo 401k accounts possible?
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Old 04-02-2020, 01:23 PM   #5
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Simple search, yes you can. You’re still required to stay within the contribution limits and meet other requirements for all your 401k accounts combined - and that’ll all be on you, the 401k providers won’t coordinate for you.

https://www.fool.com/knowledge-cente...same-time.aspx

https://www.whitecoatinvestor.com/multiple-401k-rules/

https://budgeting.thenest.com/can-tw...ime-24237.html

https://humaninterest.com/blog/why-h...is-a-bad-idea/
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Old 04-02-2020, 06:52 PM   #6
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Quote:
Originally Posted by Midpack View Post
Simple search, yes you can. You’re still required to stay within the contribution limits and meet other requirements for all your 401k accounts combined - and that’ll all be on you, the 401k providers won’t coordinate for you.

https://www.fool.com/knowledge-cente...same-time.aspx

https://www.whitecoatinvestor.com/multiple-401k-rules/

https://budgeting.thenest.com/can-tw...ime-24237.html

https://humaninterest.com/blog/why-h...is-a-bad-idea/
None of those links confirm its possible to have two solo 401k's

I'm inferring that you're saying solo 401k's are just like any other 401k type and therefore having multiple accounts isn't problematic?
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