Direct answer for buyers
Benetrends may fit a buyer who wants public price inputs before the first call and values published wording about incorporation, plan customization, transfer coordination, stock appraisal, annual fair-market-value help and a bounded IRS/DOL guarantee. Those are provider-reported facts, not proof that every legal or fiduciary duty moves to Benetrends. [3][4][5]
Tenet Financial may fit a buyer who wants a ROBS-focused third-party administrator whose checked page talks directly about C corporation and 401(k) plan establishment, employee participation, eligibility and contribution tracking, Form 5500 help, administrator access and sale or dissolution support. Its public pages do not give enough pricing inputs to calculate a public first-year or three-year total. [6][7]
What ROBS means before comparing providers
A rollover as business startup, or ROBS, is an arrangement in which a prospective business owner uses eligible retirement-plan assets to fund a new C corporation through that corporation's qualified retirement plan. In the standard structure, the C corporation sponsors the qualified retirement plan. Eligible retirement-plan assets roll into that plan. The plan then purchases stock in the C corporation, and the corporation receives capital for an active operating business. The retirement plan owns employer stock, while the corporation owns the business assets and pays expenses from corporate accounts. [1]
The custody and money movement should remain separate from personal spending. The individual does not simply spend retirement funds. The plan trust or plan account receives the rollover, the plan buys qualifying employer securities, the corporation receives the stock-purchase proceeds, and the corporation uses those proceeds for the business. The owner may work for the C corporation and may receive W-2 compensation, but plan assets, corporate assets and personal assets remain different pools.
The IRS ROBS project flags why ongoing administration matters: filings, participant information, stock valuation, stock purchases, rollovers or direct transfers, and Form 1120 coordination can be examined. A determination letter on plan language does not protect bad operation. The DOL fee guide adds a second buyer duty: compare the services, all compensation, participant information and ongoing monitoring rather than focusing only on setup price. [1][2]
Pricing math and what cannot be calculated
This table includes only arithmetic backed by checked public pages. The Benetrends rows are exact calculations from published setup and monthly administration fees. Tenet remains quote-only because complete public setup, recurring, billing-cadence and pass-through inputs were not found.
| Provider | Setup | Annual administration | First year | Three years | Formula / scope |
|---|---|---|---|---|---|
| BenetrendsRainmaker | $4,995 | $1,860 | $6,855 | $10,575 | $4,995 + ($155 × 12) = $6,855; $4,995 + ($155 × 36) = $10,575. Rainmaker public package. Rainmaker (Roth) Advantage is a separate Benetrends option and is not treated as equivalent scope. [3][4] |
| BenetrendsRainmaker (Roth) Advantage | $9,995 | $2,340 | $12,335 | $17,015 | $9,995 + ($195 × 12) = $12,335; $9,995 + ($195 × 36) = $17,015. Separate Roth Advantage option. Do not compare these totals as equivalent-scope totals against Rainmaker or a Tenet quote. [3] |
| Tenet Financial GroupROBS plan design, installation and administration | Not published | Not published | Not computed | Not computed | Unknown setup + unknown recurring administration + unknown pass-throughs = no public total. Tenet setup/recurring/first-year/three-year remain unknown absent exact public prices. Its checked pages do not publish setup dollars, recurring administration dollars, billing cadence, additional-service fees or pass-throughs; therefore no Tenet first-year or three-year total is computed. [6][7] |
Do not compare these totals as equivalent-scope totals. Benetrends' two rows are different products, and Tenet's public pages require a written quote rather than a public total.
Service evidence, unknowns and contract gaps
The comparison below uses the same questions for both providers. It is not a scorecard and it is not a private workpaper. Unknown means no current checked public passage; it does not prove the provider cannot perform the work.
| Service question | Benetrends | Tenet Financial | What to verify |
|---|---|---|---|
| Setup / implementation | Publicly stated “Rainmaker setup fee $4,995” [3] “Rainmaker (Roth) Advantage setup fee $9,995” [3] | Publicly stated “plan design, installation, and administration” [6] | Both describe implementation work; only Benetrends publishes setup dollars. |
| C corporation and plan formation | Publicly stated “set up a C corporation” [4] “design a new qualified retirement plan” [4] | Publicly stated “establishment of a C-Corporation and a 401(k) Plan” [6] | Both itemize the core ROBS formation pieces. |
| EIN tasks | Not found publicly | Not found publicly | Neither checked provider page names EIN preparation or the responsible actor. |
| Bank, trust or brokerage accounts | Not found publicly | Not found publicly | Neither checked page specifies bank-account, plan-trust-account or brokerage-account setup tasks. |
| Rollover, transfer and stock purchase | Publicly stated “transfer your retirement funds into the new plan” [4] “issuance, and management of stock investments” [3] | Publicly stated “rollover the funds into a new Plan that then invests in the company” [6] “buy stock in your new company” [6] | Both describe the funding sequence. Custody, subscription documents and signer duties still require contract review. |
| Ongoing administration | Publicly stated “On-going administration, record-keeping, and annual required reports are included” [3] | Publicly stated “Third-Party Administrator” [6] “design, installation, and administration” [6] | Both publish administration support; only Benetrends publishes recurring dollars. |
| Employee participation | Not found publicly | Coordination stated “employees can also be eligible” [6] “help you keep track of employee eligibility and contributions” [6] | Tenet discusses employee tracking. Benetrends checked pages do not state participant-addition mechanics or fees. |
| Eligibility, contributions and vesting | Not found publicly | Coordination stated “eligibility requirements” [6] “Pretax Deferrals” [6] “Employer Match or Profit Sharing Contribution” [6] | Tenet names these concepts; vesting details and responsible signatures require the plan documents. |
| Testing and filings | Coordination stated “annual required reports are included” [3] “all administrative, filing, and insurance costs” [4] | Coordination stated “help you file an annual IRS Form 5500” [6] “IRS filing requirements” [6] | Both name filing/report support. Testing, 5500-EZ boundaries, 8955-SSA, 1099-R and Form 945 scope remain contract questions. |
| Participant notices | Not found publicly | Not found publicly | Neither checked page states notice preparation, timing, delivery method or responsible signer. |
| Valuation / annual fair market value | Publicly stated “stock appraisal at no added expense” [3] “annual assistance with determining the Corporation’s Fair Market Value” [3] | Not found publicly | Benetrends publishes employer-stock valuation support. Tenet's checked pages do not state valuation support. |
| Audit inquiry and guarantee wording | Publicly stated “Assistance with IRS or DOL inquiry responses and preparation for IRS audits” [5] “Legal counsel to represent you in Tax Court if the IRS or DOL tries to disallow the retirement plan solely because of its investment in the active C-Corporation’s employer stock” [5] “Record Keeper and is not the Plan Administrator, Fiduciary or Trustee” [5] | Not found publicly | Benetrends guarantee wording is limited to inquiry responses, audit preparation, and a conditional Tax Court/prohibited-transaction guarantee trigger. Tenet checked pages do not publish audit representation. |
| Amendments / restatements | Not found publicly | Not found publicly | Neither checked source names amendment or restatement cycles, optional amendments, signatures or pass-through fees. |
| SBA or other financing coordination | Coordination stated “Pre-Qualify For Financing” [4] “helped me find multiple banks who would provide sources for (SBA) funding” [4] | Coordination stated “ROBS, SBA 7(a) loans, or other types of funding” [6] “Funding Partners” [7] | Both have financing-adjacent passages. Partner/referral claims do not prove direct duties, and lender costs sit outside ROBS provider totals. |
| Custody / investment-advice scope | Not found publicly | Not found publicly | Neither checked source establishes included custody, brokerage, investment selection or investment-advice scope. |
| Plan corrections | Not found publicly | Not found publicly | Neither checked provider source states VCP, DFVCP, failed-testing, prohibited-transaction, correction-fee or signature scope. |
| Sale, dissolution or plan termination | Not found publicly | Coordination stated “dissolve the Corporation or sell the business” [6] “walk you through this step-by-step process” [6] | Tenet names sale/dissolution guidance. Final valuation, share redemption, final filings, tax/legal actors and fees are unknown. |
| Cancellation / refunds | Not found publicly | Not found publicly | Benetrends guarantee wording does not prove cancellation/refund mechanics. Tenet checked pages do not state cancellation or refund rights. |
| Data ownership / exports | Not found publicly | Not found publicly | Neither checked source states record ownership, export format, participant-data handoff, transition files, cybersecurity contract terms or termination data rights. |
| Contract exclusions / pass-throughs | Not found publicly “Record Keeper and is not the Plan Administrator, Fiduciary or Trustee” [5] | Not found publicly “does not provide tax, legal, or investment advice” [6] “does not provide tax, legal, or investment advice” [7] | Public pages do not prove complete contract price, fiduciary allocation, tax/legal/investment advice, corrections, exit work or pass-through fees. |
Realistic fit scenarios
These scenarios translate the evidence into practical next steps. They are not recommendations to sign with either provider; they show which conversation to have first based on the facts each provider publishes and the gaps each buyer still needs in writing.
Questions to ask before signing either agreement
Use the same written questions for both providers so the quote comparison is fair. The DOL's fee guide supports asking each provider for complete and identical information about services, compensation and responsibilities. [2]
- What is the total setup fee, and which state, corporate, plan, custodian, brokerage or filing charges are separate?
- What is the monthly or annual administration fee after funding, and does it change when employees become eligible?
- Who prepares, signs and files Form 5500, Form 1120 coordination items, participant notices, amendments, corrections and final-plan paperwork?
- Is employer-stock valuation included annually, required at transactions, or billed separately?
- What happens if the business is sold, fails, dissolves, adds a partner or changes entity structure?
- What records can be exported if the company changes recordkeepers, and in what format?
- Which statements are educational support only, and which duties remain with the plan administrator, fiduciary, trustee, CPA or attorney?
Professional boundaries and guarantee limits
A ROBS is structured as a rollover into a qualified plan rather than a personal distribution, and IRS materials describe the rollover as tax-free when the plan is operated correctly; operational failures can create adverse tax consequences. That tax treatment does not remove investment risk. The plan exchanges diversified retirement assets for employer stock in one private company. If the business loses value, the plan's stock can lose value too. [1]
Benetrends' guarantee should be read narrowly. The checked PDF describes assistance with IRS or DOL inquiry responses, IRS audit preparation, and Tax Court counsel only for a conditional challenge where IRS or DOL tries to disallow the plan solely because of its investment in active C corporation employer stock and alleges a prohibited transaction. Benetrends also states that it is a Record Keeper and not the Plan Administrator, Fiduciary or Trustee. [5]
Tenet's partner and funding pages should also be read narrowly. Partner/referral claims do not prove direct duties. Tenet states that it does not provide tax, legal, or investment advice; decisions in those areas should be made with professional advisors. [6][7]
FAQs
These answers summarize the comparison points most likely to change a buyer's next step. Each answer is bounded to the seven checked sources.
Sources checked
These are the seven material sources reopened for this comparison. Provider pages establish provider-reported services and prices only; they do not prove individualized suitability, legal compliance or investment quality.
- 1. IRS ROBS compliance project
Official source re-opened July 26, 2026: ROBS arrangements use retirement funds to buy stock of a new C corporation; IRS checks have focused on plan status, rollover/direct transfer information, participants, stock valuation and stock purchases, Form 5500/5500-EZ and Form 1120 filing issues; determination letters do not protect operational failures.
- 2. DOL: Understanding Retirement Plan Fees and Expenses
Official source re-opened July 26, 2026: retirement-plan fiduciaries should evaluate necessary services, reasonable costs, bundled and unbundled arrangements, participant fee information, ongoing monitoring, and cybersecurity practices.
- 3. Benetrends ROBS/RAPS cost
Provider source re-opened July 26, 2026: Rainmaker setup fee $4,995 and administration fee $155/month; Rainmaker (Roth) Advantage setup fee $9,995 and administration fee $195/month; incorporation, legal, administrative and state filing fees are described as included; stock issuance/management, plan creation/customization, transfer coordination, stock appraisal, ongoing administration, recordkeeping, annual required reports, annual fair-market-value assistance, and Gold Standard audit and liability protection are described.
- 4. Benetrends ROBS 401(k) Funding
Provider source re-opened July 26, 2026: Benetrends describes setting up a C corporation, designing a new qualified retirement plan, transferring retirement funds into the new plan, using plan funds to purchase stock in the new C corporation, funding a startup, purchase, recapitalization or franchise, ongoing administration support, Audit Shield protection, financing pre-qualification, and help finding multiple banks for SBA funding.
- 5. Benetrends Rainmaker Guarantee
Provider PDF re-opened July 26, 2026: current clients who follow the Engagement Agreement receive assistance with IRS or DOL inquiry responses and preparation for IRS audits; Tax Court counsel applies only if IRS or DOL tries to disallow the retirement plan solely because of its investment in active C corporation employer stock and alleges that transaction is a prohibited transaction; penalties or interest from that allegation are reimbursed; the guarantee applies only while Benetrends services the plan; Benetrends states it is a Record Keeper and not the Plan Administrator, Fiduciary or Trustee.
- 6. Tenet Financial Group ROBS Funding
Provider source re-opened July 26, 2026: Tenet describes itself as a Third-Party Administrator specializing in ROBS plan design, installation and administration; typical funding in 4-5 weeks; $50,000 in pre-tax funds; C corporation and 401(k) plan establishment; employee eligibility and contribution tracking; annual Form 5500 help; assigned administrator access; sale/dissolution walkthrough; ROBS, SBA 7(a) or other funding options; and no tax, legal or investment advice.
- 7. Tenet Financial Group Partners
Provider source re-opened July 26, 2026: Tenet says it partners with franchisors, consultants, brokers, funding partners, CPAs and professionals; partnerships cover financing and business startup processes; the page displays 'FRANCHISES WE HAVE FUNDED'; Tenet does not provide tax, legal or investment advice; no public dollar setup or recurring administration price was found.