Solo 401K at Interactive Brokers

[rranjan]

While Googling I saw few references of folks having solo 401K at IB. Solo 401K is essentially a trust account but a qualified one. I talked to IB and they said that tax reporting is not suppressed in their  trust accounts. If that's the case then i don't see how anyone can have a solo 401K account at IB.

 

Am I missing something here? If any of you know anything about having a solo 401K at IB, I will appreciate the input.

[racemize]

I'm looking into this as well now--does anyone have any information on this?

[benhacker]

They don't do it, but you can set up a 401(k) Trust (paperwork...) and then have the Trust held at IB.

 

I believe this option is challenging as you have to create a "real" 401(k) plan, and administer it, but there are some ways to do it on a shoestring.  I know someone who does this, but I have not / do not myself.

[Munger_Disciple]

Believe it or not, E*TRADE is the best discount brokerage to set up an individual 401k. They offer both Roth and traditional. Schwab lets you do only traditional.

 

I set up an individual 401k for my son a couple of years back at E*TRADE.

[fareastwarriors]

Believe it or not, E*TRADE is the best discount brokerage to set up an individual 401k. They offer both Roth and traditional. Schwab lets you do only traditional.

 

I set up an individual 401k for my son a couple of years back at E*TRADE.

 

Better than a Fidelity or Vanguard? (I have no experience whatsoever)