Solera Plan Services Solo 401(k) Application -

Let’s get started!

We look forward to helping you unlock your retirement plan and start investing as you choose with a Solera Plan Services Solo 401(k). Please provide the information below and we’ll get started promptly.

This application can be used to create a brand new self-directed Solo 401(k) or restate an existing Solo 401(k) to be self-directed with Solera Plan Services as your plan provider.

Please review the Solera Plan Services Solo 401(k) Terms of Service before you begin.

For assistance with the application, please call 877-229-9763 or schedule a call with a member of our team.

"*" indicates required fields

Contact Information

Tell us about you.

Plan Participant & Primary Trustee*

Please enter your full legal name.

Prefix First M.I. Last Suffix

Phone*

Primary/Daytime Phone Number.

Email*

Primary email address.

Primary/Tax Address*

No PO boxes allowed. Will be used as official tax address of plan.

Street Address Address Line 2 City State Zip Code

County / Parish*

Please enter the county or parish associated with your address.

Mailing Address

I have a different mailing address

Mailing Address*

Street Address Address Line 2 City State ZIP Code

Plan Eligibility

To sponsor a Solo 401(k) you must have qualifying self-employment and no plan-eligible employees in any business you or your spouse control. You may have both qualifying self-employment and also be employed by an unrelated employer (and participate in that employer's 401(k) plan). If you are unsure about plan eligibility, please contact us.

Qualifying Self-Employment*

A business can be a sole-proprietorship, LLC, corporation, or partnership, but must generate earned income (not passive investment income).

I engage in a for-profit business activity that creates earned income.

No Full-Time Employees*

Non-owner employees age 21 or older who work more than 1,000 hours per year disqualify you from a Solo 401(k). A 5% or greater business owner or spouse is eligible to participate in the plan. 1099 contractors or leased employees do not affect plan eligibility.

My business does not have non-owner, full-time employees.

No Long-Term Part-Time Employees*

Employees age 21 or older who work more than 500 hours in 2 consecutive years disqualify you from a Solo 401(k).

My business does not have long-term part-time employees.

No Employees in Related Businesses*

If you, your spouse, or lineal family have related businesses considered part of a Control Group or Affiliated Service Group, any plan-eligible employees in any business within the group may disqualify you from a Solo 401(k).

My business is not part of a Control Group or Affiliated Services Group of businesses.

A Control Group or Affiliated Services Group exists, but none of the businesses have plan-eligible employees.

Business Information

Tell us about the business that will sponsor the Solo 401(k).

Employer Name*

Your business sponsoring the 401(k) as an employee benefit plan. Your name if you are a sole proprietor.

Business Entity Type*

What is the business type?

Business State

State where the business is registered.

Date of Incorporation*

Enter date of business formation for a corporation.

Tax Year End Date*

Enter the last date of the tax year if other than December 31 (MM/DD).

Last 4 Digits of Employer EIN*

Optional: Enter the last 4 digits of the EIN of the sponsoring employer if a business or your SSN if a sole proprietor.

No Restricted Business Activities*

A 401(k) associated with certain restricted business types will be unable to open a plan bank account. If you operate a restricted business, please stop and contact us before proceeding.

Cannabis related

Online gambling

ATMs, money handling, payday lending, or other financial intermediary services

None of the above

Additional Businesses*

Do you and/or your spouse have ownership in other businesses that may be considered a Control Group or Affiliated Service Group? If yes, those businesses must be included within your plan as related employers.

Yes

Related Employer Type*

Controlled Group

Affiliated Service Group

Both

Related Business Information

Please list the name, address, and last-4 digits of the tax ID for all businesses in your related employer group.

Other Plans Sponsored by This Business (or within related businesses)*

Has the business that will be setting up the Solo 401(k) sponsored one or more of the following employee benefit retirement plans (past or current)? This question applies to all businesses within a Control Group or Affiliated Service Group. This does not include plans you may have from other unrelated employers.

No Prior Employer Plans

Active Solo 401(k) - Restatement Needed

401(k) or qualified employer plan closed more than 12 months ago

401(k) or qualified employer plan closed within the last 12 months

Active SEP IRA

Active SIMPLE IRA

Plan Restatement

Because your business has an active Solo 401(k) plan we will be performing a plan restatement. A restatement keeps the current plan but updates the plan document to provide new features.

Current Solo 401(k) provider*

Which company setup your current Solo 401(k)?

Plan Document Upload

Please upload the current plan adoption agreement.

Drop files here or

Max. file size: 2 MB, Max. files: 2.

Prior plan Tax ID

If your current plan has its own tax ID, please provide. (This is not your business tax ID). Most self-directed plans will have a tax ID, while most conventional brokerage plans will not.

STOP! Your business may not be eligible to establish a Solo 401(k).

Please contact us before proceeding.

Plan Name

A 401(k) plan will typically take the name of the employer, for example Acme Services, Inc. 401(k) Plan. We will default to that option. You can choose a custom name. A best practice is to have some relation to your business. All plan names will end in "401(k)".

Name Option*

Default name format

Choose a custom plan name

Custom Plan Name*

Please enter your preferred name. Our staff will review for suitability before proceeding.

Trustees & Participants

Tell us who will have control over the plan and who will hold retirement savings within the plan. If you choose to bank with Solera, any person who will have signing authority will be sent their own Solera application and need to provide identity verification.

Co-Trustee & Additional Particpant*

A co-trustee has discretionary power to administer the plan just like the primary trustee. A co-trustee may or may not also be a plan participant. A plan participant is a spouse or business partner who is employed by and compensated by the business, and will hold retirement savings within the plan.

No Co-Trustee

Appoint a Co-Trustee who is also a plan participant

Appoint a Co-Trustee (non-participant)

Co-Trustee Name*

Enter the full name of the Co-Trustee.

Co-Trustee Email*

Provide a unique email address for the co-trustee different from the one you provided for yourself.

Co-Trustee Phone*

Co-Trustee as Bank Signer*

Will your co-trustee need to have signing authority on plan bank accounts?

Yes. The Co-Trustee needs bank signing authority.

No. The Co-Trustee is for administrative purposes only.

Integrated Plan Banking with Solera Bank (Recommended)

Integrated banking with our parent company Solera National Bank simplifies your plan setup and helps get your plan funded faster. Our Solera Banking Team is trained on and understand the special needs of self-directed 401(k) plans. If you choose to use Solera for plan banking, we will use information you provide here to pre-fill your Solera application.

Choose Solera Integrated Banking*

Yes. Setup my plan account(s) with Solera

No. I wish to setup an account on my own using a different bank.

I already have Solera Banking (plan restatement)

Bank Accounts to Setup

A separate bank account will be setup for each participant and tax type. Pease tell us the types of accounts you will need for your plan. Contact our team if you need assistance. You can skip this section and complete your application if you are unsure.

Primary Participant Accounts Needed

Traditional Tax-Deferred

Roth

Additional Participant Accounts Needed

Traditional Tax-Deferred

Roth

Acknowledgements

Please review the Solo 401(k) Terms of Service before completing this section.

The individual executing this Agreement ("client") engages Solera Plan Services, LLC dba Safeguard Advisors ("SPS") to implement a Self-Directed Solo 401(k) Plan (“plan”). Client hereby agrees to the following Terms of Service:

FORMATION SERVICES: SPS agrees to perform the following services necessary to produce and support client's plan:
• Provision of complete and compliant Solo 401(k) plan documents
• Assistance with the establishment of a plan-held bank account with Solera National Bank
• Assistance with the rollover of existing retirement plan funds into the Solo 401(k) plan
● Provide consulting guidance with respect to general plan administrative requirements and plan operations.
● Provide consulting guidance with respect to IRS rules surrounding disqualified persons, prohibited transactions, and potential tax exposure stemming from Unrelated Debt-Financed Income(UDFI) or Unrelated Business Taxable Income (UBTI).

LIMITATION OF SCOPE: Client acknowledges that SPS is a self-directed retirement plan document provider and does not provide investment, legal, or tax advice. SPS does not perform tax return preparation or other tax filings. SPS does not provide representation of client in any proceedings before any state or federal court, agency, or board. Should the client require investment, legal, or tax advice, it is the client’s responsibility to obtain such services independently.

TERMINATION PRIOR TO FUNDING: Within the lesser of 30 calendar days from execution of this agreement or the date the Solo 401(k) bank account is funded, Client may elect to terminate this agreement and receive a refund less a $150 processing fee. Any request for refund must be submitted in writing. After said 30 days, no refund shall be available.

CLIENT RESPONSIBILITY: Because this is a “self-directed” investment strategy, client acknowledges and agrees to maintain plan investments and administration within all applicable IRS regulations and will hold SPS harmless for decisions and actions taken by client.

CLIENT REPRESENTATION OF QUALIFICATION: Client understands the following qualification requirements and represents he or she is eligible to establish a Solo 401(k) plan:
• Client operates a for-profit business creating earned income in the form of self-employment income or W-2 wages
• There are no non-owner employees of the business over the age of 21 who work more than 1,000 hours per year
• There are no non-owner employees of the business over the age of 21 who have or will work more than 500 hours in any one year for 2 or more consecutive years
• Client and Client’s spouse, if married, have no controlling interest in any other businesses with plan-eligible employees

CLIENT ACKNOWLEDGEMENT OF ADMINISTRATIVE RESPONSIBILITY: Client understands that the operation of a Self-Directed Solo 401(k) Plan comes with administrative responsibilities. Client acknowledges such responsibility for plan administration, including but not limited to:
● Retaining plan records.
● Filing form 5500-EZ if the plan value exceeds $250,000 at any point during the tax year or in the event of plan termination.
● Filing form 1099-R and any associated forms if a distribution is issued from the plan.
● Maintaining copies of the plan document, including amendments and restatements that may be provided by SPS as well as prior versions of the document that have been superseded by such restatements.
● Preparation of IRS form 990-T should the plan engage in transactions that create Unrelated Business Taxable Income (UBTI) or Unrelated Debt-Financed Income (UDFI).
● Perform a periodic assessment of the plan to ensure continued operation is in compliance with the tax code; including the continuation of qualifying self-employment and a lack of non-owner employees who would be eligible to participate in the plan.
● Providing notification to Solera Plan Services, Solera National Bank, and any plan vendors of changes to the email or physical address associated with the plan.
● Contact SPS or engage independent counsel for guidance related to formal termination of the plan in the event client no longer qualifies to sponsor the plan or elects to close the plan.

LIMIT OF LIABILITY: It is agreed that SPS’s responsibility for damages, or claims of damage, regardless of the form of action, shall not exceed the total amount paid for the services invoiced. This shall be the exclusive remedy. Either party may bring no action, regardless of form, arising out of the services under this agreement more than one year after the date of the last service provided under this agreement.

SOLERA PLAN SERVICES FEES: A monthly service fee of $5.00 applies. The service fee may be paid with personal funds or funds from the plan entity. SPS reserves the right to change fees in the future, and will provide a minimum 30-day notice by email before any such change.

SUBSCRIPTION BILLING AND AUTO-RENEWAL: Client’s subscription to SPS services includes enrollment into an ongoing and recurring payment plan. The subscription will automatically renew monthly on the anniversary date of this Agreement until canceled per the terms outlined below. Payment will be charged to the payment method originally provided by the client when establishing the service. Client will have the option to change the payment method in the future.

TERM: This agreement shall remain in effect so long as applicable fees are paid by the client to SPS.

TERMINATION BY CLIENT: Client may terminate the service at any time by written request to SPS via email to [email protected], by mail to Solera Plan Services, LLC, 319 S. Sheridan Blvd., Lakewood, CO 80226, or by resources SPS may make available through its support web site. Upon account closure, monthly billing will be stopped prior to the scheduled renewal date in the next calendar month. Client acknowledges that terminating the services of SPS does not close the plan. Client will have the responsibility to close the plan formally and report such closure to the IRS. SPS will provide guidance for plan termination upon request. If client elects to continue operation of the plan after terminating this Agreement, client accepts full responsibility for maintaining the plan in accordance with applicable IRS requirements.

TERMINATION FOR NON-PAYMENT: SPS reserves the right to terminate this Agreement in the event that monthly fees are not paid 120 days after the billing date. In the event of such termination, SPS will no longer offer support or plan document maintenance services. The plan may fail to remain in compliance if IRS mandated amendments or restatements are not adopted by applicable deadlines, which may result in IRS penalties and potentially plan disqualification. SPS will make reasonable attempts to contact the client and remedy the situation before electing to terminate services under this Agreement.

TERMINATION FEE: There is no fee payable to SPS associated with termination of this Agreement.

DISPUTE: Any dispute related to services provided under this Agreement shall be settled by arbitration in Jefferson County, Colorado according to the rules of the American Arbitration Association. Arbitration is final and binding on the parties. The parties are waiving their right to seek remedies in court, including the right to a jury trial.

APPLICABLE LAW: The laws and jurisdiction of the state of Colorado shall govern any and all matters of dispute between SPS and client.

CLIENT PRIVACY: SPS agrees to protect and not disclose to third parties not directly associated with the services rendered under this Agreement any personal or private information. However, this clause does not pertain to government agencies or law enforcement agencies.

DIGITAL COMMUNICATIONS: Client agrees to transact business using electronic communications and to receive notices and disclosures via electronic means.

MISCELLANEOUS: This document sets forth the entire agreement between the parties. This Agreement shall be binding upon all successors and assigns of the parties hereto. This Agreement is severable, and if any provision herein shall be deemed invalid, all other valid provisions shall remain in force.

I agree to the Terms of Service

3rd Party Designee for EIN*

I authorize Solera Plan Services, LLC dba Safeguard Advisors to act as a 3rd party designee on my behalf to apply for and receive an EIN for this 401(k) plan from the IRS, and to answer questions about completion of form SS-4.

Plan Document Subscription*

I subscribe to the Plan Document Maintenance service as outlined in the Solo 401(k) Terms of Service. I authorize Safeguard to bill the credit card provided for the annual subscription amount of $99 in the anniversary month of plan delivery.

Digital Signature*

Enter your full legal name.

Comments or Questions

Plan Fees

Safeguard Solo 401(k) Plan

Price:

Coupon Code

Enter a coupon code if one was provided with your plan proposal.

Total Due Today

Name

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