MySolo401k provides self-directed retirement accounts which include ROBS 401k plans for business financing. They service small business owners, aspiring entrepreneurs, and alternative investors. In this article, we cover its pricing options. Ready to get started with MySolo401k? Open an account.
Summary of MySolo401k User Reviews
As of the date this article was written (12/27/17), there are no up-to-date user reviews of MySolo401k online. If you are a past or current MySolo401k customer, leave a review to help other business owners who are deciding whether or not to use the company.
MySolo401k charges an initial setup fee of $4,000, and an annual fee of $899 after the first year. There is an additional fee of $75 for each employee after the first 10 employees.
Their setup fee includes the formation of C corporation and bylaws, 401k/PSP plan, IRS determination letter, bank account assistance and EIN establishment, transfer or rollover assistance, and audit guarantee. The annual fee includes Form 5500 preparation, Form 1099-R reporting, mandatory amendments, monitoring of contributions and vesting, computation of plan contributions, and more.
Ready to get started with MySolo401k? Open an account.
Top MySolo401k Alternatives
Businesses that want the highest level of service including free legal consultations
Entrepreneurs looking to fund a franchise with ROBS or ROBS + SBA loans
Startups looking for the provider that has been successfully doing ROBS the longest
Startups looking for the most affordable full-service ROBS option available
Exploring funding alternatives on a free online marketplace
Top Lender Pick from Fit Small Business
Best SBA Lenders: Top 100 SBA Lenders— With more than 3,000 SBA lenders nationwide, choosing the best SBA lender can be difficult. Some of the best SBA lenders approve average loan amounts of about $75,000 to more than $1.5 million, with interest rates averaging around 6.4 percent to more than 9.2 percent. In this guide, we’ll show you the 100 top SBA lenders per current SBA data, and review 10 of the top SBA lenders.
Check out the list below of some of MySolo401k’s features:
- State Corporation Filing (inclusive of filing fees)
- Obtain corporate federal employer identification number (EIN)
- Corporate Records (bylaws, stock certificates, etc.)
- Corporate Bank Account Assistance
- IRS-approved plan including favorable determination letter
- Prepare all forms to open 401k Brokerage Account
- Transfer/Rollover Assistance
- Work Directly with Attorney & Compliance Officer (No Sales Rep)
- Annual Plan Compliance Support (Form 5500, Plan Amendments, etc.)
How long does the financing process take?
What types of business can a client start with MySolo401k’s business financing plan?