solo/SE 401K & EIN


N

nearly_blind

I wish to open a Self employed (solo ) 401K. I am not
incorporated and do not have a separate EIN. It seems I need
an EIN to open a 401K.

Assuming I do need an EIN to open a solo 401K, I can apply
for one now, but all my income for 2004 will be reported on
1099's with my SS# not my new EIN.

Does this matter to the IRS? Can I still make my 401K
contribution based on the 1099 earnings(profits) associated
with my SS#?

Thanks.
 
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T

Tom Healy

I wish to open a Self employed (solo ) 401K. I am not
incorporated and do not have a separate EIN. It seems I need
an EIN to open a 401K.

Assuming I do need an EIN to open a solo 401K, I can apply
for one now, but all my income for 2004 will be reported on
1099's with my SS# not my new EIN.

Does this matter to the IRS? Can I still make my 401K
contribution based on the 1099 earnings(profits) associated
with my SS#?
You would use the EIN only for the 401(k). Continue to use
your SSN for all other purposes.

--
Thomas E Healy, CPA, PC
1650 38th St., Ste 202W
Boulder, CO 80301
Please send email to: (e-mail address removed), since I block all email at my
newsgroup address.
phone (303) 443-1804
fax (720) 489-3772
 

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