For Schwab is the "Trustee and Custodial Agreement" required to be filled out for Individual 401k?
In this section "10.01 Trustee" it mentions
1. Trustee Appointment
a. Trustee (Select one.)
Option 1: Financial Organization as Trustee.
Option 2: Individual Trustee(s).
Option 3: Not applicable. A Trustee is not required to be named for this Plan because the Plan is exempt from the trust
requirements under ERISA section 403 (e.g., the Plan covers one or more self-employed individuals as defined in
Code section 401(c)(1)).
Wondering if this entire agreement can be skipped or if you need fill it out and choose option 3 here.
This agreement was not present in etrade's application for individual 401k. If so, may have missed it.
In this section "10.01 Trustee" it mentions
1. Trustee Appointment
a. Trustee (Select one.)
Option 1: Financial Organization as Trustee.
Option 2: Individual Trustee(s).
Option 3: Not applicable. A Trustee is not required to be named for this Plan because the Plan is exempt from the trust
requirements under ERISA section 403 (e.g., the Plan covers one or more self-employed individuals as defined in
Code section 401(c)(1)).
Wondering if this entire agreement can be skipped or if you need fill it out and choose option 3 here.
This agreement was not present in etrade's application for individual 401k. If so, may have missed it.
Statistics: Posted by jamesbogle — Sat Jun 08, 2024 9:37 pm — Replies 791 — Views 78633