Solo 401k Webinar - "How To" Guide - Mega Backdoor Roth Solo 401k Conversion to Roth IRA at Fidelity

[@micart79]

My husband is trying to do this but our cpa told us we needed a tpa firm to work through. So we are setting it up with them as a solo 401k trust at vanguard but it is so confusing and financial advisors are not willing to help. We need to get the tpa firm to assist us more one on one because we are clueless.

[@mysolo401kfinancial3]

Thanks for your good question. Please see the response on our My Community forum: mysolo401k.net/mycommunity/forums/discussion/can-i-open-a-mega-backdoor-roth-solo-401k-at-vanguard/

[@mysolo401kfinancial3]

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[@micart79]

Well Nabers group is a tpa firm and had us set it up through Vanguard so vanguard must allow it. That's what Nabers Group is set up to handle. We did it per their instructions we just don't know how to navigate the logistics of their account in making the transaction.

[@mysolo401kfinancial3]

Please see response: mysolo401k.net/mycommunity/forums/discussion/can-i-open-a-mega-backdoor-roth-solo-401k-at-vanguard/

[@armada730]

If I set up a new Roth IRA with fidelity to transfer after tax contributions, will it be under my personal name or will it be under the S-Corp EIN or the trust/solo401K EIN?

[@mysolo401kfinancial3]

Please see the answer posted on our Community site: mysolo401k.net/mycommunity/forums/discussion/youtube-qa-setting-up-the-roth-ira-at-fidelity/

[@mysolo401kfinancial3]

Please join (it is free) mysolo401k.net/mycommunity/wp-login.php

[@stephandbrian16]

Can I make an after tax contribution to my plan after I have filed my taxes (sole proprietor) as long as it’s before the deadline in May? I understand that there is nowhere to report these after tax contributions on my tax return. I will be making my profit share contribution before I file my taxes. Thanks.

[@mysolo401kfinancial3]

There is nothing in the rules that would preclude you from doing so - of course, you would need the self employment income to justify the contribution and deposit the after tax contribution into a separate sub account.