ACH into E*Trade Solo 401k
ACH into E*Trade Solo 401k
I have completed the employee employer setup of an E*Trade Solo 401k account. I am curious if anyone has experience initiating an ACH from a business bank to send funds into the account as the employer? E*Trade limits the number of accounts that can be "linked" to initiate transfers from their side, but I'm curious if I can just initiate ACH from my business bank into the account (with the routing and account number). I know I can do a wire, but my business bank changes a fee for that, but does not for an ACH.
Re: ACH into E*Trade Solo 401k
One last attempt to bump this up and see if anyone has an answer
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Re: ACH into E*Trade Solo 401k
ElDuro:
I use E*Trade for a Solo 401K. I don't send employee or employer contribution funds to them from the business account. I pull the funds from that account through E*Trade. The account is the original one set up and funding account.
Off the top of my head, in my E*Trade account I simply go to transfer money, pick the from & too accounts, and characterize it - is it EE, Catch-up, etc.
I have never "sent" funds to them from my outside bank.
jello
I use E*Trade for a Solo 401K. I don't send employee or employer contribution funds to them from the business account. I pull the funds from that account through E*Trade. The account is the original one set up and funding account.
Off the top of my head, in my E*Trade account I simply go to transfer money, pick the from & too accounts, and characterize it - is it EE, Catch-up, etc.
I have never "sent" funds to them from my outside bank.
jello
Re: ACH into E*Trade Solo 401k
Thanks Jello, but I did finally uncover their instructions for "direct deposit" which in my case translates to initiating an ACH from my business bank to them. Part of the problem was that not understanding that they limit the number accounts you can link on their side for the first 60 days, and I linked my personal bank account first.
The "direct deposit" approach seems to be what I was looking for, and allows me to ACH into ETrade from an outside bank.
AD
The "direct deposit" approach seems to be what I was looking for, and allows me to ACH into ETrade from an outside bank.
AD