Getting the most out of your 401(k) is dependent on making wise investments. However, selecting 401(k) investments to maximize your benefit can be daunting and shouldn’t fall entirely on your shoulders, particularly if you’re not an expert—and don’t care to be.
When it comes to making investments with Single(k), you have the option of getting investment guidance from Charles Schwab & Co., Inc., or you can select your favorite discount brokerage/mutual fund family. At the end of the sign-up process, we provide you with all the necessary instructions for opening a brokerage account.
The IRS and certain custodians (including Charles Schwab & Co., Inc.) require an Employer Identification Number (EIN) to establish a retirement plan. This is especially the case if you are a sole proprietor and currently use your Social Security Number for your business and personal taxes.
Because Single(k) is a qualified retirement plan, it has to be sponsored by a business entity. The EIN is for your company’s retirement plan, not the business itself.
Need an EIN and don’t have one? Read more here.
We are committed to making retirement plans easy for you. Simply contact us at singlek@theonline401k.com or 855.401.4357, Option 4 for more information.