Can you have a Solo 401k without a salary? Do I have to pay myself w-2 from my S-Corp?

Can you have a Solo 401k without a salary? Do I have to pay myself w-2 from my S-Corp?

Harvard Law Attorney George Blower answers Solo 401k FAQ whether a self-employed individual who operates their business via an S-corp can make Solo 401k contributions if no w-2 wages/salary is taken.

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The solo 401k plan, commonly referred to as self-directed Solo 41k is the retirement plan of choice for self-employed individuals or owner-only businesses including for the features highlighted below:

-The highest contribution limits for any defined contribution plan including up to $66,000 (or even $73,500 if you are 50 or older) for 2023.

-The ability to make pre-tax, Roth, and even Mega Backdoor Roth contributions.

-401k participant loans of up to $50,000

-Invest with checkbook control in real estate, cryptocurrencies, notes, private placements, and other types of alternative investments.

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