Solo 401k Restatement Documents Deadline is July 31


by Jordan Sheppherd

Life Settlements in a Retirement Account? Think Again.

This reminder applies only to our Solo 401k clients. The below information does not apply to an IRA LLC structure.

This is a quick reminder to all of our Solo 401k clients, that you must sign your 401k restatement documents by July 31, 2022.

Here are some quick notes:

  • This update and restatement is required by the IRS for all 401k plans in the United States
  • We began sending signature request emails for Solo 401k restatement documents on March 2, 2022.
  • If you haven’t signed your documents yet, you will have been receiving a reminder email every 5 days since March 2.
  • Once you’ve signed, you’ll receive an email with a signed copy of the documents in PDF, and you’ll simply retain them in your files
  • If your plan has two Trustees, then your co-Trustee needs to sign the documents as well
  • This update does not change the name of your 401k, accounts you’ve opened, or investments the 401k has made, it is an update of your 401k’s core plan documents

Who Must Sign the Updated Documents?

If you are the only person participating in the 401(k), you will sign as the business owner and as the Trustee. If your 401k plan has two Trustees, then your co-Trustee will need to sign as well. If we have a separate email for your co-Trustee in our files, they will receive their own signature request email. If both you and your co-Trustee use the same email address, then both signature request emails will go to the same email address.

What Do I Do With the Signed Documents?

Once you’ve completed your signatures, you’ll receive an email with the signed documents attached in PDF. You do not need to do anything with the documents other than to save a copy on your hard drive or on the cloud.

What is a Restatement & Whats the Purpose of This Update?

As plan document provider to your 401k plan, every six years, our documents must be rewritten, incorporating legislative changes into the documents, and resubmitted to the IRS for approval for the next six year cycle. Going forward, amendments and updates are then tacked on to the new documents, so to speak, during the next six year cycle. If you’d like a more in-depth explanation of this restatement, you can click here

What is the Deadline For the Update?

You must sign these updated documents by July 31, 2022.

Contact Us

    Name *

    Email *

    Phone *

    How can we help? *