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landleviathan OP t1_j9xfrew wrote

Reply to comment by avalpert in Employee contributions to solo 401k after end of tax year by landleviathan

Thank you for your reply! I am my own administrator - maybe I should reconsider that. So an administrator would have taken down that I was electing to make $X contribution for tax year 2022, and then given me a notarized document for my records so I could prove I'd made the election before year end?

If you have a suggestion for a resource on where I can read up on that kind of detail I would be really grateful.

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debbiewith2 t1_j9y8tnd wrote

No. In your bedroom, you signed and dated a post-it in 2022, saying how much you were going to defer. As long as the plan was established in 2022, you can make employee contributions.

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avalpert t1_j9yrlrf wrote

Yeah, lying and fraud can never come back to bite you, just ask Congressman Santos.

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avalpert t1_j9yru8m wrote

It doesn't need to be a notarized document - just a signed form would do. Easy to draft, scan (or use an e-signature), and store electronically.

But accurate record keeping is the most critical part (including of your employer and employee contributions).

I'm sure you can ask your provider for whatever primer they have. It isn't difficult in the sense of being hard, but it does require diligence.

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