SOLO 401 K PLANS

Submitted by Al Figliolia on Mon, 2025-04-28 11:49

If a client goes on extension for his 2024 tax return, can he establish and fund a 401 K Solo in 2025 for his 2024 taxes?

We seem to get different opinions on this

Please advise

Thanks



Submitted by Alan - IRA critic on Mon, 2025-04-28 12:22

The new solo K for a sole proprietor can be established after the due date, but it’s too late for 2024 employee contributions per Sec 317 of Secure 2.0, as the extension does not extend that deadline. However, employer contributions can be made up to the extended due date.

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