Yes, your Solo 401(k) plan, also called an individual 401(k), a one-participant plan, self-employed 401(k) or self-directed 401(k) plan is a qualified retirement plan.
A qualified
plan is basically a retirement plan sponsored by employer for the exclusive benefit of
employees. These plans follow special IRS rules and qualify for special
tax treatment, such as deferring paying taxes on the contributions until
retirement.
Please
click the link IRS
- Common Qualified Plan Requirements for more information.
