Maintaining your entity: What you need to know about your 401k’s.

In this episode of Coffee with Carl, attorney Carl Zoellner covers everything you need to know about maintaining your entity and 401k planning. 

Today I wanted to continue our series with annual expectations and talk about 401K’s or as we refer to them, the qualified retirement plans. 

Quick note: If you don’t have a 401K with us, this post might not be very helpful as we’re covering maintaining them with us. 

Now, if your 401K is over $250,000, then there are some small service fees associated with it– like filing an annual information return with the IRS. 

On average, you’re really looking somewhere around a thousand dollars a year to maintain an account over $250,000. 

If it’s less than that, not really a whole lot for you to worry about, but larger accounts do have some compliance things that have a cost of maintenance. 

Some other things to consider on your 401K is if you’re going to take a loan from your 401k, there are certainly costs to administering the loan. Another quick note, Anderson produced the loan docs for you there as well as the payment plan back. 

Not much to consider on the 401K annual fees, just if the account is larger, realize there’s a tax filing that needs to happen and probably some slight administrative costs too. 

Well, until next time, this is your episode of Coffee with Carl on annual expectations for the 401k. 

The Takeaway 

If you have additional questions and are already a client, feel free to ask those questions of your advisor attorney, even folks on our business continuity team can help you with that. Also, if you need a breakdown of those things, please let us know. 

So until next time, thank you for joining me with another episode of “Coffee with Carl.” If you do like this content, I would encourage you to subscribe and hit the like, so we can continue to make more content.   

Keep taking advantage of our FREE educational opportunities and the free content we put out on the web. So that’s Toby’s Tax Tuesday, our tax and AP events for our clients who’ve already gone through our Tax and Asset Protection event. 

Our Structure Implementation Series is fantastic. That answers a lot of the questions you have in the beginning. So there are a lot of different educational opportunities out there. One of my favorites as well is our Infinity Investing Workshop. 

Resources mentioned in this video:

• Join our next Tax & Asset Protection event to learn more advanced tax minimization & entity structuring strategies 
• Subscribe to our YouTube channel to make sure you never miss the latest strategies & updates