Your monthly subscription covers two things: ongoing plan document maintenance and access to Self-Directed Plans support services.
A Solo 401(k) is governed by a formal plan document that must remain compliant with current IRS rules. Tax laws change over time, and your plan document must keep pace.
There are two types of document updates your plan will require during its life:
Amendments are targeted updates made when Congress passes new legislation affecting retirement plans. When a law change requires a modification to your plan document, we prepare and deliver the amendment. You do not need to track legislative changes or request these updates. They are included in your subscription and delivered as needed.
Restatements are comprehensive rewrites of the entire plan document. The IRS requires all qualified retirement plans to be restated on approximately a six-year cycle. A restatement incorporates all prior amendments and any other IRS guidance issued since the last restatement, producing a fully updated and IRS-compliant plan document. This too is included in your subscription.
Keeping your plan document current is not optional. An outdated plan document can put your plan at risk of disqualification by the IRS, which can result in the loss of your plan's tax-preferred status. Your subscription ensures this never becomes a problem.
Your subscription includes access to the Self-Directed Plans support team and knowledge base. This covers questions about plan operations, contributions, distributions, compliance with IRS rules, and general guidance on how your plan works.
Do I need to do anything when an amendment or restatement is issued?
In most cases, you will receive the updated document and be asked to review and sign it. We handle the preparation and delivery. You are responsible for executing the document and retaining it in your plan records.
How often does a full restatement happen?
The IRS requires plan restatements on approximately a six-year cycle. The exact timing is set by the IRS and applies to all qualified retirement plans using pre-approved plan documents, including Solo 401(k) plans.
Does my subscription include access to the Self-Directed Plans knowledge base?
Yes. All active subscribers have access to the knowledge base and support team for questions about plan operations and IRS rules.
Can the monthly subscription fee change in the future?
Yes, the monthly subscription fee may change over time. Any change would reflect our ongoing costs of providing plan document maintenance and support services. We are committed to keeping Solo 401(k) plans affordable, and you will receive at least a 30-day notice before any change takes effect.
This information is provided for educational purposes only and should not be interpreted as tax, legal, or investment advice. Readers are encouraged to consult a qualified professional who can offer guidance based on their personal situation.