Maximizing First-Year Deferrals with SECURE 2.0 for Sole Proprietors
Guide sole proprietor clients through the process of establishing and funding their 401(k) plans, helping them take full advantage of the new provisions under SECURE 2.0.
Key Points
- New Deferral Rules: Educate clients on the SECURE 2.0 provision that allows sole proprietors to make retroactive elective deferrals to their 401(k) plans by their tax return due date, without extensions.
- Eligibility Criteria: Assist clients in understanding the eligibility requirements for making these deferrals, helping them accurately determine their potential contributions.
- Implementation Strategies: Provide clients with strategies to effectively implement these new deferral rules, helping them maximize their retirement savings opportunities in the first year of their plan.