Who Can Establish a TRA Solo(k) Plan?
Part 1
The TRA Solo(k) Plan is designed for owner-only businesses.
Your business may be eligible to establish the plan if you meet the following condition:
If you answered NO, you are not eligible for
the TRA Solo(k) Plan. Please call TRA
at 1-888-872-2364 to learn about other retirement plans that are available to your business.
If you answered YES, continue to Part 2.
Part 2
Please answer the following questions:
If you answered YES to any question, you are
not eligible for the TRA Solo(k) Plan. Please call TRA at 1-888-872-2364 to learn about other retirement
plans that are available to your business.
If you answered NO to all questions,
your business is eligible to establish a TRA Solo(k) Plan. Please consult with your CPA or tax advisors to
ensure the plan is right for you.
(1) Controlled Group or group of
employers under common control - If you own at least 80% of another business, the two businesses are a controlled group.
If you own more than 50% of another business, the two businesses may be a controlled group. Please consult with your CPA to
determine if your business is a member of a controlled group.
(2) Affiliated Service Group -
Businesses X and Y may be an affiliated service group if (a) Business X has an ownership interest in Business Y, and (b)
Business Y regularly performs services for Business X. Please consult with your CPA to determine if your business is a
member of an affiliated service group.
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Who can establish a plan?
