Converting solo k to IRA

T

Toonces

Has anyone opened up a solo k account, and then converted it to an IRA? I'm not talking about having a 401k plan at a job, and then converting it to an IRA when you no longer work there. I'm talking about having your entity setup a solo k and converting to an IRA while the entity still survives.

The feedback I've been getting is that this is illegal because you need a triggering event (eg termination, turning a certain age, etc.) to convert.

If you've done this, which firm did you have your money in? How long did it take to make the conversion?
 
I think you can do that. You need to file some paperwork to dissolve your entity. Call Fidelity and they will tell you.
 
Quote from yip1997:

I think you can do that. You need to file some paperwork to dissolve your entity. Call Fidelity and they will tell you.
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But you do have to dissolve the entity? Bummer.
 
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