convert solo 401k to IRA?

Can I convert my self employed 401k to an IRA and do away with the 401k management fees $300/yr? We do not plan to contribute any more to the 401k before starting to take withdrawals this year.

Just so the rest of you know, the right answer is to talk with your current 401k managment team and see if your plan allows it. My team said yes, and gave me a couple suggestions to go along with their answer. However, if you later decide that you want to shelter more income above the IRA limits, you're stuck, or you have to incur other expenses to set up another 401k.