Our Solo 401(k) customers should still report their investment value in the Rocket Dollar dashboard. Please finish this reporting by February 28th, 2022.
Rocket Dollar requires all customers to update their customer dashboard.
In order to make sure you are under or over $250,000 in assets, please update your investment tracker in your Rocket Dollar dashboard. This asset level will change if it is necessary for you to complete a form 5500.
You can view instructions on how to enter an investment and update an investment in our article on IRA FMV. Solo 401(k) customers do not have to file a form 5498 as that applies only to IRAs.
What about Silver Customers?
Silver Customers who bought a Solo 401(k) will have to file their own form 5500.
What about Gold Customers?
Rocket Dollar will file form 5500 for all of our Gold customers.
What if I bought an account before Silver and Gold?
If you purchased an account before Silver and Gold were products, Rocket Dollar will still file a form 5500. We consider these customers "Gold Legacy" customers and their tax reporting will not change.
What if I have multiple Solo 401(k)s?
If you have multiple Solo 401(k)s, like a plan at Rocket Dollar it's still a requirement to file a Form 5500 for all your Solo 401(k) plans once you get over a cumulative $250,000 in assets. If you are below $250,000 in assets in your current Solo 401(k) plan at Rocket Dollar but have outside plans that would add up to over $250,000 in assets, please let Rocket Dollar know.
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