2020 5500EZ Reporting contribution to Solo 401K and CARES ACT (returned 2020 RMD to 401K Solo then deposited in ROTH)

Submitted by Alice Zab on Tue, 2021-05-18 22:04

(A) 2020 RMD from Solo 401K was returned to Solo 401k (CARES ACT) then deposited in ROTH (different account number from Solo 401k
(B) 2020 contribution from nonqualified account was made to the Solo 401K before April 15, 2021.

On 2020 5500 EZ, (B) contribution was reported.
Please correct my assumption:
2020 RMD (A) does not need to be reported as a contribution to the ROTH on the 2020 5500 EZ?
and the custodian of the Roth does not need to file form 5498 (https://irahelp.com/slottreport/roth-ira-contributions-and-your-tax-return)
Thanks in advance



Submitted by Alan - IRA critic on Tue, 2021-05-18 22:59

Agree, except that the Roth IRA custodian must file Form 5498 to report a rollover contribution.

Submitted by William Tuttle on Wed, 2021-05-19 03:47

It is not clear to me what was and was not done. There are too many imprecise and confusing statements.
Was the original RMD from a one-participant 401k pre-tax account or from the designated Roth account or a mix.
Any Cares Act return would have had to be to the same account(s) the RMD came from.
What is meant by; “then deposited in ROTH (different account number from Solo 401k.” Is this a designated Roth account of the same one-participant 401k plan? Or a Roth IRA which would not be permissable.
What is meant by; “contribution from nonqualified account was made to the Solo 401K.” All one-participant contributions must be made from cash.
Is there even a Roth IRA involved here? No IRA, no Form 5498.
Please clarify “exactly” what was done.

Submitted by Alice Zab on Fri, 2021-05-21 17:05

Spiritrider, sorry for the ambiguity. Your questions actually helped me with the confusion on my part (I think). Thank you for your assistance.

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