I believe that Fidelity Investments has what you are looking for.
From the "Retirement Resource Center" at
http://personal.fidelity.com/retirement/, click on "Retirement
Planning for Small Business Owners" and then click on "Self-Employed
401(k)" on the right hand side. This takes you to the section
entitled "Benefits of a Fidelity Self-Employed 401(k)" with
information and a link to account forms.
After reviewing the application and associated forms, I do not believe
there are any account maintenance fees associated with the 401(k)
plan. Based on my experience with their SIMPLE-IRA plan, Fidelity
will provide you with updated versions of the prototype plan documents
as necessary. However, you are responsible for filing the Form 5500
or 5500-EZ annually if necessary (usually only applies if you have
more than $100,000 in your plan) and otherwise acting as the plan
administrator.
You are allowed to purchase Fidelity funds, non-Fidelity funds, and
virtually anything else you can buy in a normal brokerage account for
your 401(k) plan. Commissions may apply, depending upon how you
execute the transaction and what is being purchased. The "Customer
Agreement and the Brokerage Commission and Fee Schedules" provides a
detailed disclosure.
The link in the box entitled "Learn More" on the page with the forms
to open an account provides a good overview of the characteristics of
the Fidelity Self-Employed 401(k).
While I really like Vanguard for investing in extremely low cost
funds, I have found them to be more expensive than Fidelity for
investing self-employment tax deferred assets because of account
maintenance fees.
I apologize for my inability to provide you with links to each of the
specific documents I referred to, but the Fidelity web site does not
allow me to do that. You can reach a Fidelity Retirement Specialist
for further information by calling 800-544-5373.
Sincerely,
Wonko |
