Folks I think we can put our heads together and figure this out without having to leave Ascensus. I think we may need a separate thread that describes how to initiate transactions at Ascensus (versus trying to leave them). I have a solo 401K plan without another employee. I have learned the following:
1/ Establish employee account (via email they sent) and choose what fund or funds new contributions go to. You have to do this within this account not the employer account.
2/ Establish employer account at sponsorinsight.com (via email they sent) which I will use to direct funds toward both employee and employer contributions.
3/ One has to select the employee as myself first before making contributions.
4/ Once you have an employee selected you can input a dollar amount in the employee contribution or profit sharing (employer contribution).
5/ To get history of employer and employee contributions Go to Reports and then Fund Balances Detail. Select date range from January 1st 2024 to today's date. It provides the money contributed to employee contributions and to employer profit sharing contributions.
6/ For contributions made in 2025 for tax year 2024 I assume you will pick the contribution date as 12/31/2024. This last part I will verify with Ascensus.
1/ Establish employee account (via email they sent) and choose what fund or funds new contributions go to. You have to do this within this account not the employer account.
2/ Establish employer account at sponsorinsight.com (via email they sent) which I will use to direct funds toward both employee and employer contributions.
3/ One has to select the employee as myself first before making contributions.
4/ Once you have an employee selected you can input a dollar amount in the employee contribution or profit sharing (employer contribution).
5/ To get history of employer and employee contributions Go to Reports and then Fund Balances Detail. Select date range from January 1st 2024 to today's date. It provides the money contributed to employee contributions and to employer profit sharing contributions.
6/ For contributions made in 2025 for tax year 2024 I assume you will pick the contribution date as 12/31/2024. This last part I will verify with Ascensus.
Statistics: Posted by msj16 — Mon Aug 05, 2024 4:58 pm — Replies 1221 — Views 130973