Hello.
I am thinking about getting a Solo 401(k), and my understanding is that this will require me to have an FEIN.
I currently do 100% 1099 contract work, and use SSN.
I believe I am considered a sole proprietor - I have no employees, and do all the work myself. I file joint annual tax returns with my spouse whose income all comes from his employer on a W-2.
My hang up here is the FEIN.
If I generate an FEIN through the IRS, would I then need to issue myself (to my SSN) a 1099-NEC from my FEIN?
How does switching from SSN to FEIN change my annual tax process?
Thank you so much for helping get me started.
