Balancing the demands of running a solo business with the responsibility of saving for retirement can feel like juggling two full-time jobs. Without the safety net of an employer-sponsored plan, independent professionals must find a retirement vehicle that matches their ambition and income potential—one that maximizes contributions, offers tax advantages, and keeps paperwork to a minimum.
A Solo 401(k), sometimes called a one-participant 401(k), answers that call. As both employer and employee, you can make generous elective deferrals and profit-sharing contributions, choose between traditional and Roth subaccounts, borrow from your account when needed, and invest in anything from index funds to individual bonds. Of course, with great power comes fiduciary responsibility: you’ll need to set up the plan by year-end, maintain required documents, and meet ERISA’s compliance standards.
In this guide, we’ll compare the eight best Solo 401(k) accounts for self-employed individuals, evaluating each provider’s fee structure, investment menu, loan and Roth features, user experience, customer support, and administrative assistance. Let’s start by understanding what a Solo 401(k) is, who qualifies, and what features matter most.
What is a Solo 401(k) Plan?
A Solo 401(k), often called a one-participant 401(k), is a retirement plan designed for business owners who have no full-time employees other than a spouse. Unlike a traditional employer-sponsored 401(k), this arrangement lets you wear two hats—yourself as both the employer and the employee—so you can make contributions on both sides. That dual-role setup is what enables higher contribution limits and more flexibility compared to other self-employed retirement vehicles.
Definition and Purpose
A Solo 401(k) combines the best features of an employer plan and an individual retirement account (IRA). As the employee, you can defer a portion of your compensation—up to the annual elective deferral limit—into the plan. As the employer, you can then add a profit-sharing contribution based on your net self-employment income. Together, these contributions can total up to $69,000 for 2024 or $70,000 for 2025 (plus catch-up amounts if you’re age 50 or older).
Because you control the plan, you decide whether contributions go into a traditional pre-tax account, a Roth after-tax account, or a mix of both. You also choose how to invest the funds—from index funds and ETFs to individual securities or, with certain providers, even real estate and private equity.
IRS Regulations and Plan Requirements
To secure those tax benefits, you must establish your Solo 401(k) plan by December 31 of the tax year for which you want to make employee deferrals. Failing to set up the plan in time means you can’t claim those elective deferrals on that year’s return.
When you open a Solo 401(k), you’ll need:
- An adoption agreement provided by the plan’s custodian or administrator
- Trust documents to hold plan assets in trust for participants and beneficiaries
- A written plan document outlining eligibility rules, contribution formulas, distribution options and fiduciary responsibilities
For full details on regulatory requirements, see the IRS guidance on one-participant 401(k) plans.
Typical Use Cases
Solo 401(k) plans are popular among:
- Freelancers and independent contractors who earn income on their own
- Consultants and gig-economy workers building a business without staff
- Single-owner LLCs, sole proprietorships and S-corporations with no employees
- Married couples operating a business together—each spouse can make employee deferrals if they receive compensation from the business
If your spouse actively works in the same trade and gets paid, you can set them up as a participant too, effectively doubling the family’s contribution potential. This flexibility makes the Solo 401(k) an especially powerful tool for maximizing retirement savings when you’re flying solo–or nearly solo.
Eligibility and Contribution Limits for Solo 401(k) Plans
Plan eligibility and contribution rules determine how much you can save—and who can participate in a Solo 401(k). Below we break down who qualifies for this powerful retirement vehicle, as well as the specific limits for 2024 and 2025.
Who Qualifies for a Solo 401(k)
To open a Solo 401(k), you must be self-employed or own a business with no full-time employees other than your spouse. There are no age or income minimums—your sole requirement is net earnings from self-employment. Whether you operate as a sole proprietor, single-member LLC, S-corporation, or partnership, the plan is available as long as you don’t have any W-2 employees on staff.
If your spouse performs genuine services for the business and receives compensation, they can participate as well. This exception lets married couples effectively double their saving power, since both you and your spouse can make employee deferrals and share in the profit-sharing contributions.
2024 and 2025 Contribution Limits
Solo 401(k) contribution limits consist of two components—employee elective deferrals and employer profit-sharing contributions:
- Employee elective deferrals:
• 2024 limit: $23,000
• 2025 limit: $23,500
(or 100% of compensation, whichever is less) - Employer profit-sharing contributions:
• Up to 25% of net self-employment income (net profit minus half of self-employment tax and the plan contributions you made for yourself)
When combined, these contributions can reach a grand total of $69,000 for 2024 and $70,000 for 2025. Note that the IRS caps the compensation used to calculate employer contributions at $345,000 in 2024 and $350,000 in 2025.
Catch-Up Contributions
Participants aged 50 or older can tack on an extra catch-up contribution of $7,500 in both 2024 and 2025. Thanks to the SECURE 2.0 Act, those aged 60–63 in 2025 enjoy an even higher catch-up limit of $11,250. These catch-up amounts are in addition to your standard elective deferral and profit-sharing opportunities.
Keep in mind that if you also participate in another employer’s 401(k)—for example, through a W-2 job—your total employee deferrals across all plans cannot exceed the annual elective limit. Coordinate your contributions to maximize your savings without breaching IRS thresholds.
Key Features to Consider When Selecting a Solo 401(k) Account
Not all Solo 401(k) providers are created equal. When you’re comparing options, look beyond just the headline costs. Think about how each plan aligns with your personal priorities—whether that’s minimizing fees, tapping into alternative investments, borrowing against your balance, or simply having a user-friendly online portal. Below are the core factors to weigh as you zero in on the best solo 401k account for your business and retirement goals.
Fee Structures and Account Costs
Fees can erode returns over time, so scrutinize every line on the fee schedule:
- Setup fees: One-time charges for plan adoption agreements and account opening
- Annual/maintenance fees: Flat dollar amounts or tiered pricing based on plan assets
- Transaction fees: Per-trade costs for stocks, ETFs or mutual funds; extra charges on mutual funds outside a no-transaction-fee list
- Asset-based fees: A percentage of your total plan assets charged each year
- Hidden costs: Custodial service fees, compliance support, loan-processing fees
Flat fees are easy to predict, but an asset-based model may be cheaper if you keep your plan balance low. Conversely, asset‐based fees often decline as your portfolio grows. Always ask providers for a sample fee worksheet so you can compare “all-in” costs side by side.
Investment Options and Flexibility
A Solo 401(k) should let you build a portfolio that fits your risk tolerance and time horizon:
- Core choices: Mutual funds, index funds, ETFs, individual stocks and bonds
- Specialty offerings: Branded target-date or managed portfolios for a hands-off approach
- Alternative assets: Real estate, private equity, promissory notes or cryptocurrency (available with self-directed plans)
If you value simplicity, a broad fund lineup from a major custodian may suffice. But if you’re looking to diversify into nontraditional assets, consider a provider that offers checkbook control or a dedicated self-directed Solo 401(k) option.
Loan Provisions and Roth Components
Two features that distinguish top solo 401k accounts are loan availability and Roth subaccounts:
- Participant loans: Most plans allow you to borrow up to 50% of your vested balance, capped at $50,000, with repayment terms typically up to five years
- Roth subaccount: After-tax contributions grow tax-free, provided you meet the five-year rule and qualifying distribution criteria
Not every Solo 401(k) comes with both options. Check the plan document carefully or review this summary of Solo 401(k) features before you commit.
Customer Service and Online Platform Usability
Even the best fee structure or investment menu won’t matter if you can’t navigate the website or get timely help:
- Dashboard and mobile app: Look for clear reporting of account balances, transaction history and performance charts
- Payroll integration: Automated data feeds from Gusto, ADP or similar services save you manual data entry
- Support channels: Dedicated Solo 401(k) specialists available by phone, email or live chat
- Turnaround times: How long does it take to process a loan request, distribution or compliance question?
A supportive service team and intuitive platform can turn administrative headaches into a smooth, hands-off experience—especially valuable when you’re already stretched thin running your business.
Administrative Responsibilities and ERISA Compliance
Running a Solo 401(k) isn’t just about socking away extra retirement savings—it also means you’re the plan sponsor and fiduciary. That status brings strict administrative and compliance duties under the Employee Retirement Income Security Act (ERISA) and IRS rules. Falling behind on paperwork or breaching fiduciary standards can lead to penalties, unnecessary headaches, and even plan disqualification. Below, we break down the core filings and fiduciary rules you need to master.
Form 5500-EZ Filing Requirements
If your Solo 401(k) holds more than $250,000 in plan assets at the end of the year, you must file Form 5500-EZ with the Department of Labor. This short‐form annual report provides regulators with basic information about your plan’s financial status and operations.
• Filing deadline: July 31 for calendar‐year plans (you can request an extension to October 15 via Form 5558).
• Under $250,000: No annual filing required, unless it’s the final year of plan termination.
• How to file: Follow the Form 5500-EZ instructions on the IRS website or use an electronic filing service.
Many providers streamline this process—see the BNA401K summary for a quick overview of how custodians can help with Form 5500-EZ preparation and submission.
ERISA Fiduciary Duties and Prohibited Transactions
As a plan fiduciary under ERISA, you’re legally required to:
- Act solely in the best interests of participants and beneficiaries.
- Apply the “prudent person” standard when selecting investments and service providers.
- Follow your plan documents exactly.
- Diversify investments to minimize the risk of large losses.
- Pay only reasonable plan expenses.
Breaching these duties—whether by steering business to a related party, charging excessive fees, or ignoring the plan’s investment policy—can trigger civil penalties, excise taxes, and even personal liability. ERISA also prohibits certain “parties in interest” transactions, like:
- Selling plan assets to yourself or other disqualified persons.
- Lending money or extending credit between the plan and a fiduciary.
- Using plan assets for personal benefit.
For a deeper dive into your responsibilities and how to avoid common pitfalls, review the Department of Labor’s guidance on fiduciary responsibilities. Staying on top of these rules protects both your participants and your peace of mind.
How We Selected the 8 Best Solo 401(k) Accounts
Selecting the right Solo 401(k) provider can feel overwhelming given the array of features, fees, and service models available. To help you navigate this decision, we conducted a systematic evaluation to identify the top eight accounts for self-employed savers. Our process centered on clear benchmarks, rigorous research, and real-world considerations relevant to small business owners and independent professionals.
Evaluation Criteria
We assessed each Solo 401(k) plan against five core criteria:
- Fees and pricing transparency: One-time setup costs, annual maintenance charges, asset-based or per-transaction fees, and any hidden expenses.
- Breadth of investment options: Availability of mutual funds, ETFs, individual securities, managed portfolios, and alternative assets like real estate or private placements.
- Loan and Roth functionality: Support for participant loans (up to IRS limits) and after-tax Roth subaccounts for tax-free growth.
- Administrative support and compliance ease: Assistance with required filings (e.g., Form 5500-EZ), plan document templates, and ERISA fiduciary guidance.
- Customer service responsiveness and platform usability: Intuitive online dashboards, mobile access, integrated payroll feeds, and availability of dedicated support channels.
Research Methodology and Data Sources
Our analysis drew from a combination of primary and secondary sources to ensure accuracy and impartiality:
- Provider documentation: We reviewed official plan brochures, fee schedules, adoption agreements, and trust documents from each Solo 401(k) custodian.
- Regulatory guidelines: We cross-checked IRS rules on one-participant 401(k) plans and Department of Labor fiduciary guidance to verify compliance features.
- Industry benchmarks: We consulted white papers, peer-reviewed studies, and established financial publications for best practices in plan administration and investment flexibility.
- User insights: We incorporated feedback from independent forums, customer reviews, and case studies to gauge real-world experiences with platform performance and support quality.
By triangulating these sources, we ensured our recommendations reflect both technical requirements and everyday usability for plan sponsors.
Weighting of Factors
Not every feature holds equal weight for every saver. To reflect general priorities among self-employed individuals, we applied the following weights to our evaluation:
- Fees and pricing transparency: 30%
- Breadth of investment options: 25%
- Administrative support and compliance ease: 20%
- Customer service responsiveness and platform usability: 15%
- Loan and Roth functionality: 10%
These weightings balance the importance of long-term cost efficiency, investment flexibility, and smooth plan management. However, individual priorities may vary—cost-sensitive savers might lean more heavily on expense ratios, while alternative-asset investors will prioritize self-directed features. We encourage you to consider how your personal goals align with these factors as you review each provider.
1. Fidelity Investments – Best Overall Solo 401(k) Provider
Fidelity Investments stands out as the best overall Solo 401(k) provider thanks to its blend of cost efficiency, extensive investment lineup, and top-notch support. Whether you’re building a simple index-fund portfolio or diving into individual securities, Fidelity’s platform delivers the tools and resources to manage your retirement plan with confidence. With no account opening or maintenance fees, you can keep more of your hard-earned savings working for you.
Fees and Pricing
Fidelity makes fee transparency a priority. Key points include:
- Setup fee: $0
- Annual maintenance fee: $0
- Stock and ETF commissions: $0
- No-transaction-fee mutual funds: available on thousands of funds
- Broker-assisted trade fee: $32.95 per transaction
Because there are no hidden custodial or compliance charges, you’ll know exactly where your dollars are going—and where they’re growing.
Investment Options
When it comes to building a diversified portfolio, Fidelity offers:
- Over 3,300 no-transaction-fee mutual funds
- Commission-free trading on stocks and ETFs
- Access to bonds, CDs, and money-market investments
- Robust research tools, screeners and educational articles
From DIY investors who relish deep research to hands-off savers preferring target-date funds, Fidelity’s product shelf has something for every style.
Pros and Cons
Pros
- Zero setup and annual fees keep costs rock-bottom
- Vast selection of no-transaction-fee mutual funds and commission-free ETFs
- Industry-leading research resources and learning center
Cons
- No participant loan feature—lacks a Solo 401(k) loan option
- Active traders may find the broker-assisted fee relatively high
2. Charles Schwab – Best for Low Fees
Charles Schwab’s Individual 401(k) plan is tailor-made for savers who want to keep expenses to a minimum without sacrificing choice or quality. With no account-opening or annual maintenance fees, zero commissions on stocks and ETFs, and access to thousands of no-transaction-fee mutual funds, Schwab makes it easy to channel more of your contributions into growth rather than fees.
Overview
Schwab strips away common cost barriers, so you can focus on building wealth rather than worrying about hidden charges. Beyond its low-cost structure, Schwab offers robust trading platforms, extensive educational resources, and award-winning customer service—making it a go-to option for both new and experienced investors.
Fees and Pricing
- Setup fee: $0
- Annual maintenance fee: $0
- Stock and ETF commissions: $0
- No-transaction-fee mutual funds: 4,000+
- Broker-assisted trade fee: $25 per transaction
With no asset-based charges or surprise custodial fees, Schwab’s fee schedule remains predictable even as your plan balance grows.
Investment Options
Schwab’s lineup covers virtually every mainstream asset class:
- Commission-free stocks and ETFs
- Over 4,000 mutual funds with no transaction fees
- Fractional-share trading on many equities
- Bonds and fixed-income products
- Options trading for active strategies
Whether you’re building a core portfolio of index funds or layering in individual securities, Schwab’s deep liquidity and intuitive screening tools help you execute your strategy quickly.
Pros and Cons
Pros
- Zero setup and ongoing fees keep costs ultra-low
- Commission-free trading on stocks, ETFs, and thousands of mutual funds
- Industry-leading customer service and investor education
- Fractional-share and options trading add flexibility
Cons
- No participant loan feature—Solo 401(k) loan requests aren’t supported
- Limited access to alternative assets (real estate, private equity) without a self-directed wrapper
3. E*TRADE – Best for Account Features
ETRADE shines when flexibility is top of your wish list. The platform supports both traditional pre-tax Solo 401(k) plans and Roth after-tax subaccounts, so you can tailor your tax strategy. Unlike many competitors, ETRADE also lets you tap into your retirement savings through participant loans, giving you cash access up to IRS limits without derailing your long-term goals.
With an intuitive web portal and the powerful Power ETRADE trading interface, this provider caters to active investors and hands-on savers alike. Whether you want to trade equities on the fly or automate contributions, ETRADE delivers a feature-rich environment that keeps administrative hassles to a minimum.
Fees and Pricing
E*TRADE keeps basic costs straightforward:
- Setup fee: $0
- Annual maintenance fee: $0
- Stock and ETF commissions: $0
- No-transaction-fee mutual funds: Thousands of options available
- Broker-assisted trade: $25 per transaction
Since there’s no flat asset-based fee, your only ongoing costs come from optional services like broker-assisted trades or managed portfolio add-ons—making it easier to forecast expenses as your account grows.
Loan and Roth Options
One of E*TRADE’s standout features is the ability to borrow from your Solo 401(k). You can take out a loan of up to 50% of your vested account balance (maxed at $50,000), with repayment terms that typically extend up to five years. This provision can be a lifesaver for unexpected cash needs, emergencies, or short-term investments.
On the tax front, E*TRADE provides a Roth subaccount, letting you funnel after-tax dollars into your Solo 401(k). Once you’ve met the five-year rule and are age 59½ or older, qualified distributions from the Roth account are completely tax-free—an attractive perk if you expect to face higher tax rates in retirement.
Pros and Cons
Pros
- Participant loans up to IRS limits provide liquidity without penalties
- Supports both traditional and Roth contribution types for tax flexibility
- Powerful online platforms (Power E*TRADE) and robust mobile app
Cons
- Broker-assisted trades incur a $25 fee, higher than some rivals
- No dedicated flat-fee plan administration package for ultra-low-maintenance needs
With its blend of loan functionality, Roth capability, and professional‐grade trading tools, E*TRADE is an excellent choice for self-employed investors who want maximum control over their Solo 401(k) strategy.
4. Rocket Dollar – Best for Alternative and Real Estate Investments
Rocket Dollar takes you beyond the usual roster of stocks and bonds by offering a fully self-directed Solo 401(k) with true “checkbook control.” Once you set up your account, you can write a check or wire funds directly from your Solo 401(k) LLC, bypassing the delays and approvals typical of custodial plans. This flexibility makes Rocket Dollar the go-to choice for self-employed investors who want hands-on access to real estate, private equity, cryptocurrency or other nontraditional assets.
Fees and Pricing
Rocket Dollar’s Gold Solo 401(k) package is tailored for active alternative-asset investors:
- One-time setup fee: $600
- Monthly custodian fee: $30
- Assets under management (AUM) fees: none
- Custodian sign-off on transactions: not required
That flat, transparent pricing covers plan documentation, trust administration and ongoing compliance support. There are no hidden enforcement or transaction charges, so you can stay focused on sourcing and closing deals.
Alternative Investment Options
With Rocket Dollar’s checkbook control, your Solo 401(k) can fund virtually any IRS-allowed vehicle:
- Residential rental properties and multiunit buildings
- Fix-and-flip projects or raw land acquisitions
- Direct loans and promissory notes to private businesses
- Equity stakes in startups and private placements
- Cryptocurrency holdings—Bitcoin, Ethereum and more
- Farmland, timberland, precious metals and collectibles
Instead of waiting days or weeks for custodian approval, you sign documents and transfer funds directly, giving you a competitive edge when timing matters most.
Pros and Cons
Pros
- Broadest access to alternative investments through checkbook control
- Flat pricing with no AUM or per-transaction fees
- No custodian sign-off delays—transactions settle in your ideal timeframe
- Dedicated support for self-directed compliance and IRS reporting
Cons
- Higher upfront ($600) and monthly ($30) fees compared to traditional plans
- Increased personal responsibility for due diligence and recordkeeping
- Requires forming and maintaining an LLC as plan trustee, adding complexity
5. Vanguard – Best for Cost-Conscious Investors
Vanguard’s Solo 401(k) offering embodies the firm’s philosophy of keeping costs low and returns high. By centering the plan on its own suite of ultra–low-cost index funds and ETFs, Vanguard ensures that savers don’t pay a premium for brand or bells and whistles. For entrepreneurs focused on maximizing every dollar of growth, this streamlined approach can deliver significant savings over time.
Fees and Pricing
- Setup fee: $0
- Annual maintenance fee: $0
- Per-fund administration fee: $20 per fund held
- Fee waiver: All per-fund fees are waived once you maintain $50,000 or more in Vanguard assets
These straightforward charges mean you won’t encounter unexpected custodial or compliance expenses. The per-fund fee can be eliminated entirely if you build a sufficiently large Vanguard relationship.
Investment Options
Vanguard limits the Solo 401(k) investment menu to its in-house products:
- Around 100 mutual funds and ETFs, including domestic, international, bond, and target-date options
- Industry-leading expense ratios, often among the lowest in their categories
- No access to individual stock trading, non-Vanguard funds, or alternative assets
While this universe may feel restrictive to active traders or alternative-asset aficionados, it covers the essential building blocks of a diversified portfolio at minimal cost.
Pros and Cons
Pros
- Lowest expense ratios on index funds and ETFs help keep more of your returns
- No setup or annual fees beyond the per-fund charge
- Roth Solo 401(k) option for tax-free growth in retirement
- Fee waiver at $50,000 in Vanguard assets eliminates per-fund fees
Cons
- Limited to Vanguard proprietary funds—no direct stock or non-Vanguard ETF trading
- $20 per fund can add up for small accounts under $50,000
- No participant loan feature—borrowing from your Solo 401(k) isn’t supported
6. Merrill Edge – Best for Integrated Wealth Management
Merrill Edge appeals to self-employed savers seeking a Solo 401(k) that integrates seamlessly with their everyday banking and investment needs. Backed by Bank of America and powered by Merrill Lynch’s brokerage platform, this plan delivers unified reporting, access to Morningstar-driven model portfolios, and the option to borrow from your account—all under a single login.
Fees and Pricing
Merrill Edge’s Solo 401(k) comes with a tiered fee schedule that reflects its comprehensive service model:
- Business-level charges:
• Plan setup: $100 one-time fee
• Monthly maintenance: $20 per month for plan assets below $500,000; $25 per month for assets above - Participant fees:
• Recordkeeping: $3 per participant, per month
• Asset-based fee: 0.52% of total plan assets, billed annually
These fees cover plan document preparation, trust administration, compliance support, and consolidated statements across Merrill Edge and Bank of America accounts.
Investment Options and Loans
Merrill Edge’s Solo 401(k) gives you multiple ways to build and access your nest egg:
- A broad selection of mutual funds, ETFs, stocks and bonds available on the Merrill platform
- Professionally managed model portfolios powered by Morningstar Investment Management, ideal for hands-off investors
- Participant loans up to 50% of your vested balance (capped at $50,000), with streamlined application and repayment tracking
Tying your Solo 401(k) to a Merrill Edge brokerage account and a Bank of America checking or savings account enables automated contributions and one-stop viewing of all your finances.
Pros and Cons
Pros
- Seamless integration with Bank of America for funding and consolidated reporting
- Access to Morningstar-curated model portfolios for a turn-key investment solution
- Participant loan feature offers liquidity without early-withdrawal penalties
Cons
- Higher setup and ongoing fees compared to most flat-fee Solo 401(k) providers
- Complex fee tiers require careful forecasting to understand total costs
- Investment universe leans heavily on Merrill’s proprietary products and model portfolios
For self-employed professionals who value an all-in-one banking and investment experience, Merrill Edge’s Solo 401(k) is a powerful choice—just be prepared to trade a higher price tag for the convenience of integrated wealth management.
7. Nabers Group – Best for Self-Directed Investment Options
Nabers Group stands out for entrepreneurs who want true autonomy over their retirement assets. By offering a self-directed Solo 401(k) with full checkbook control, Nabers empowers plan sponsors to invest directly in a wide array of nontraditional assets while its trustee services and compliance support keep the plan ERISA-ready.
Fees and Pricing
Nabers Group keeps costs straightforward with a flat-fee structure:
- One-time setup fee: $500
- Monthly custodian fee: $25
These fees cover the initial plan adoption documents, trust formation (often via an LLC), and ongoing administration—including annual IRS and Department of Labor compliance support. There are no additional asset-based or per-transaction charges.
Self-Directed Investment Options
With Nabers’ checkbook control model, your Solo 401(k) can deploy capital wherever the IRS allows:
- Real estate: residential rentals, commercial properties, raw land, fix-and-flip deals
- Private debt and equity: promissory notes, private placements, syndicated loans
- Precious metals and collectibles: gold, silver, rare coins
- Other alternatives: crowdfunding investments, venture capital commitments
Once the plan’s trust and LLC are established, you simply write checks or wire funds directly from your Solo 401(k) LLC—no custodian approvals needed.
Pros and Cons
Pros
- Unparalleled freedom to invest across asset classes without custodian restrictions
- Integrated trust and LLC structure handled by Nabers’ team, streamlining legal and compliance work
- Predictable, flat-fee pricing with no hidden AUM or transaction costs
Cons
- Greater administrative responsibility: you must perform your own due diligence, recordkeeping and reporting
- Plan setup is more complex—creating an LLC and trust requires additional paperwork and possibly state-level filings
- Not ideal for savers seeking a hands-off, purely online platform experience
For self-directed investors ready to take control of every aspect of their retirement portfolio, Nabers Group (https://www.solo401k.com/) delivers a checkbook-control Solo 401(k) with robust support for alternative assets.
8. Guideline – Best for Automated Administration and Low Costs
Guideline is a cloud-native Solo 401(k) provider built for entrepreneurs who want to offload administrative work and keep fees predictable. Its platform automates plan setup, compliance monitoring, and payroll integration, leaving you free to concentrate on growing your business rather than chasing paperwork.
Fees and Pricing
- Setup fee: $0
- Monthly plan fee: flat $39 per plan, covers up to 50 participants
- No asset-based fees or per-transaction charges
With Guideline’s all-in pricing, you’ll never face surprise custodial or compliance surcharges. Whether your plan balance is $5,000 or $500,000, your monthly cost remains unchanged.
Plan Administration and Payroll Integration
Guideline stands out with its end-to-end automation. Contributions sync automatically from payroll platforms like Gusto, Rippling, and ADP, eliminating manual data entry. When your plan’s assets exceed $250,000, the system prepares and files Form 5500-EZ on your behalf. It also issues compliance alerts, generates customized plan documents, and tracks fiduciary deadlines—all within a single dashboard.
Pros and Cons
Pros
- Hands-off administration with auto data feeds and automated compliance alerts
- Transparent flat-fee pricing, making budgeting simple and predictable
- Built-in Form 5500-EZ preparation and electronic filing
Cons
- Investment lineup limited to core mutual funds and ETFs—no self-directed or alternative assets
- Flat fee may be less cost-effective for very small plans with minimal activity
- Lacks checkbook-control features for real estate or private equity investments
Explore how Guideline simplifies Solo 401(k) management at Guideline’s Solo 401(k) page.
Finding Your Ideal Solo 401(k) Account
Choosing the best solo 401(k) account comes down to matching a provider’s strengths with your unique priorities. If zero fees and extensive fund lineups top your list, Fidelity and Charles Schwab stand out. For those who value flexible contribution types and loan provisions, E*TRADE delivers robust Roth and loan options. Self-directed investors seeking real estate or private equity access will appreciate Rocket Dollar and the Nabers Group, while cost-conscious savers can’t beat Vanguard’s rock-bottom expense ratios. Merrill Edge brings the convenience of integrated wealth management, and Guideline shines for entrepreneurs who want hands-off administration and automated compliance.
At the end of the day, no single plan is right for everyone. If you’re primarily fee-sensitive, focus on flat-fee or zero-fee structures. If alternative assets or active trading matter most, prioritize checkbook-control and a broad investment menu. And if you’re racing against the clock, a provider with seamless payroll feeds and auto-filing for Form 5500-EZ could save you countless hours.
Before you commit, take time to dig into each provider’s plan documents, run the numbers on sample fee schedules, and—if possible—test their online demos or support teams. A few minutes spent on due diligence now can pay dividends down the road.
For businesses seeking extra peace of mind around ERISA compliance and fiduciary responsibilities, consider partnering with Summit Consulting Group. Their expert third-party administration and fiduciary services help you navigate the complexities of plan setup, ongoing compliance, and risk management—so you can get back to running your business with confidence. Visit Summit Consulting Group’s professional ERISA compliance and fiduciary support at https://www.geauxsummit401k.com.
