Comments on: How To Fill Out Form 5500-EZ For Your Solo 401k https://thecollegeinvestor.com/37648/how-to-fill-out-form-5500-ez/ Navigating Money And Education Sun, 23 Jul 2023 16:39:18 +0000 hourly 1 By: Robert Farrington https://thecollegeinvestor.com/37648/how-to-fill-out-form-5500-ez/#comment-477713 Sun, 23 Jul 2023 16:39:18 +0000 https://thecollegeinvestor.com/?p=37648#comment-477713 In reply to MJF.

If you exceeded the $250k combined, you should amend.

]]> By: MJF https://thecollegeinvestor.com/37648/how-to-fill-out-form-5500-ez/#comment-477704 Fri, 21 Jul 2023 21:38:51 +0000 https://thecollegeinvestor.com/?p=37648#comment-477704 In reply to Robert Farrington.

Thank you. I have filed the 5500EZ for the regular 401k for the last two years but did not include the balance of the Roth. Do I need to file an amended return for the previous years?

]]> By: Robert Farrington https://thecollegeinvestor.com/37648/how-to-fill-out-form-5500-ez/#comment-477701 Fri, 21 Jul 2023 16:53:56 +0000 https://thecollegeinvestor.com/?p=37648#comment-477701 In reply to MJF.

If these are both accounts as part of the same plan documents you created (i.e. same company you’re contributing from), which likely they are – you can’t have a Roth without a regular, then it’s one 5500 form and you combine the balances (since it’s the entire plan balance).

]]> By: MJF https://thecollegeinvestor.com/37648/how-to-fill-out-form-5500-ez/#comment-477700 Fri, 21 Jul 2023 13:36:54 +0000 https://thecollegeinvestor.com/?p=37648#comment-477700 I have a solo 401k at TD over $250k and a Roth 401k at TD under $250k (different account numbers). Are these considered different plans? Do they BOTH need to file a 5500?

]]> By: Robert Farrington https://thecollegeinvestor.com/37648/how-to-fill-out-form-5500-ez/#comment-477386 Fri, 16 Jun 2023 15:00:38 +0000 https://thecollegeinvestor.com/?p=37648#comment-477386 In reply to David.

Not sure what you mean? The 5500-EZ just reports contributions, but doesn’t calculate the maximum contribution. The maximum contribution is subject to the 401k contribution limits, as well as the income you earn and your business structure. There are plenty of 401k contribution calculators, but if you’re unsure, you should consult a tax professional.

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