I have a client that is a Sole Proprietor and files schedule C. She is opening a solo/individual 401(k) plan. She needs to get an EIN to open the Solo 401(k). She went to the link below.

https://www.irs.gov/businesses/small-businesses-self-employed/apply-for-an-employer-identification-number-ein-online

Step 1 is asking for the legal structure.

1. Does she select “Sole Proprietor”? If so, I assume she then selects “banking purposes”?

OR

2. Does she select “View Additional Types, Including Tax-Exempt and governmental organizations” then select “employer plan (401k, money purchase plan, etc.)”?