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Article Date:
December 2006

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Solo 401(k)

Just a few questions on the solo 401(k) article that appeared in the October 2006 Tax Reduction Letter (Vol. 15, No. 10):



Is there an age limit (for a working person)?


Do you have to keep the 401(k) for a minimum number of years?


Can an independent contractor have a solo 401(k)?

(C.L., Wilmington, DE)


Here are the answers to your solo 401(k) questions:



The law contains no age limit on putting money into the solo 401(k).


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