How to transfer your solo 401k from another plan provider to Carry

If you have an existing solo 401k plan with another provider that you want to transfer to the Carry Solo 401k, follow these steps. It takes less than 10 minutes to complete.

Step 1: Open a Carry account.

The Carry Solo 401k is available on all Carry plans (Basic, Pro, and VIP). The first step is to create your account with Carry.

Step 2: Once you’ve created your account, open your Carry Solo 401k.

Step 3: Choose “I’m bringing an existing solo 401k” during set up.

On the next screen, input the original plan start date with your old provider.

Step 4: Upload your existing solo 401k plan documents that you may have received from your old provider.

These include your existing plan’s Adoption Agreement, Trust Agreement, and EIN Confirmation Letter. If you don’t have all of the files, or are unsure which ones you need to add, upload whatever you have and we’ll be in touch with you after you finish your onboarding. Note: You can upload files multiple times so they don’t all have to be included in a single file.

Step 5: Complete your application

Once you complete the steps, review and submit your application. We’ll verify the details and create your new Carry Solo 401k for you. You’ll get an email when your account is created — usually within 1-2 business days.

Your solo 401k will now be provided by Carry. As long as your existing bank/brokerage accounts for your solo 401k are registered in the name and EIN of the solo 401k plan (not the EIN for your business), you can continue to keep them open or transfer the funds over using the Carry app if you wish.

If the accounts were not opened under a separate plan EIN, you will need to close them and transfer the assets to new accounts, registered to your plan’s name and EIN. The Carry team can assist with this process.